When authorization is granted to the direct or indirect subsidiary of one or more parent undertakings governed by the law of third countries, the structure of the group shall be specified in the notification which the competent authorities shall address to the Commission.

Such a parent should disclose the reasons why consolidated financial statements have not been presented together with the bases on which subsidiaries are accounted for in its separate financial statements.

minority interests in the net income of consolidated subsidiaries for the reporting period are identified and adjusted against the income of the group in order to arrive at the net income attributable to the owners of the parent;

A Member State which does not make use of the possibility provided for in Article 6 (1) of Directive 83/349/EEC and in which, when this Directive is adopted, several categories of natural persons may, under national legislation, carry out statutory audits of the documents referred to in Article 1 (1) (b) of this Directive may, until subsequent coordination of the statutory auditing of accounting documents, specially approve, for the purpose of carrying out statutory audits of the documents referred to in Article 1 (1) (b), a person approved pursuant to Article 20 of this Directive if on the parent undertaking's balance sheet date, the body of undertakings to be consolidated does not, on the basis of those undertakings' latest annual accounts, exceed the limits of two of the three criteria established in Article 27 of Directive 78/660/EEC, provided that he is empowered to carry out the statutory audit, of the documents referred to in Article 1 (1) (a) of this Directive, of all the undertakings included in the consolidation.

Disclosure of transactions between members of a group is unnecessary in consolidated financial statements because consolidated financial statements present information about the parent and subsidiaries as a single reporting enterprise.

WHEREAS SUCH PROTECTION IMPLIES THE PRINCIPLE OF THE PREPARATION OF CONSOLIDATED ACCOUNTS WHERE SUCH A COMPANY IS A MEMBER OF A BODY OF UNDERTAKINGS , AND THAT SUCH ACCOUNTS MUST BE DRAWN UP AT LEAST WHERE SUCH A COMPANY IS A PARENT UNDERTAKING;

However, if a company forms part of a body of undertakings to be consolidated which exceeds the limits of two of the three criteria established in Article 27 of Directive 78/660/EEC, such persons may not carry out the statutory audit of the documents referred to in Article 1 (1) (a) of this Directive in the case of that company.

Explanations of the main differences, taking into account the accuracy of each statistic and differences in concepts. These comparisons could be cross-tabulated by enterprise size classes and broad NACE Rev1 groupings.

in consolidated financial statements a listing of significant subsidiaries including the name, country of incorporation or residence, proportion of ownership interest and, if different, proportion of voting power held;

"vertically integrated undertaking" means a natural gas undertaking or a group of undertakings whose mutual relationships are defined in Article 3(3) of Council Regulation (EEC) No 4064/89 of 21 December 1989 on the control of concentrations between undertakings(9) and where the undertaking/group concerned is performing at least one of the functions of transmission, distribution, LNG or storage, and at least one of the functions of production or supply of natural gas;

Segment revenue includes an enterprise's share of profits or losses of associates, joint ventures, or other investments accounted for under the equity method only if those items are included in consolidated or total enterprise revenue.

carrying out statutory audits of the consolidated accounts of bodies of undertakings and verifying that the consolidated annual reports are consistent with those consolidated accounts in so far as such audits and such verification are required by Community law.

The enterprise group unit is particularly useful for financial analyses and for studying company strategies, but it is too varied in nature and unstable to be adopted as the central unit for observation and analysis, which remains the enterprise.

Thus where a State-owned company is not part of an overall industrial holding company and is not subject to any coordination with other State-controlled holdings, it should be treated as an independent group for the purposes of Article 5, and the turnover of other companies owned by that State should not be taken into account.

In order to ensure the transparency of the activities of State trading enterprises, Members shall notify such enterprises to the Council for Trade in Goods, for review by the working party to be set up under paragraph 5, in accordance with the following working definition:

The statement required by paragraphs 8 and 10(c) is required in consolidated financial statements in all circumstances other than when the measurement currencies of the enterprises in the group and the presentation currency, and when displaying additional information, the display currency, are the same.

ANY SUCH DEROGATIONS MUST BE DISCLOSED IN THE NOTES ON THE ACCOUNTS AND THE REASONS FOR THEM GIVEN TOGETHER WITH AN ASSESSMENT OF THEIR EFFECT ON THE ASSETS , LIABILITIES , FINANCIAL POSITION AND PROFIT OR LOSS OF THE UNDERTAKINGS INCLUDED IN THE CONSOLIDATION TAKEN AS A WHOLE.

In preparing consolidated financial statements, the financial statements of the parent and its subsidiaries are combined on a line-by-line basis by adding together like items of assets, liabilities, equity, income and expenses.

IF THE COMPOSITION OF THE UNDERTAKINGS INCLUDED IN A CONSOLIDATION HAS CHANGED SIGNIFICANTLY IN THE COURSE OF A FINANCIAL YEAR , THE CONSOLIDATED ACCOUNTS MUST INCLUDE INFORMATION WHICH MAKES THE COMPARISON OF SUCCESSIVE SETS OF CONSOLIDATED ACCOUNTS MEANINGFUL.

THE EXEMPTED UNDERTAKING AND , WITHOUT PREJUDICE TO ARTICLES 13 , 14 AND 15 , ALL OF ITS SUBSIDIARY UNDERTAKINGS MUST BE CONSOLIDATED IN THE ACCOUNTS OF A LARGER BODY OF UNDERTAKINGS , THE PARENT UNDERTAKING OF WHICH IS GOVERNED BY THE LAW OF A MEMBER STATE;

The purpose of MIGA is to promote the economic development of its developing member countries by encouraging the establishment, expansion and modernization of private - and specifically small or medium-scale-enterprises, so as to compliment the activities of the other members of the World Bank Group.

a list of all other undertakings which are active in affected markets (affected markets are defined in Section 6) in which the undertakings, or persons, of the group hold individually or collectively 10 % or more of the voting rights, issued share capital or other securities;

Identify the undertaking(s) or association of undertakings whose conduct the complaint relates to, including, where applicable, all available information on the corporate group to which the undertaking(s) complained of belong and the nature and scope of the business activities pursued by them.

FISIM for loans to households should be distributed among three items (dwelling loans, loans to households as owners of unincorporated enterprises and other loans to households) on the basis of information on stocks and interest for each of the three groups.

Where a measure allows investors to participate in the equity of a company or set of companies on terms more favourable than public investors, or than if they had undertaken such investments in the absence of the measure, then those investors receive an advantage(16).

A MEMBER STATE MAY ALSO MAKE EXEMPTION DEPENDENT UPON THE DISCLOSURE , IN THE NOTES ON THE CONSOLIDATED ACCOUNTS REFERRED TO IN ARTICLE 7 (2) (A) , OR IN THE ANNUAL ACCOUNTS OF THE EXEMPTED UNDERTAKING , OF ALL OR SOME OF THE FOLLOWING INFORMATION REGARDING THE BODY OF UNDERTAKINGS , THE PARENT UNDERTAKING OF WHICH IT IS EXEMPTING FROM THE OBLIGATION TO DRAW UP CONSOLIDATED ACCOUNTS :

In particular, technology transfer agreements containing certain severely anti-competitive restraints such as the fixing of prices charged to third parties should be excluded from the benefit of the block exemption established by this Regulation irrespective of the market shares of the undertakings concerned.

Payment to producer groups of the amounts referred to in paragraphs 1 and 2, and payment of the purchase price to producers by processors may be made only by bank or postal transfer, to a single account, which in the case of a producer group must be linked to the payments to individual members of the group.

ANY SUCH DEROGATIONS MUST BE DISCLOSED AND WHERE THE EFFECT ON THE ASSETS , LIABILITIES , FINANCIAL POSITION AND PROFIT OR LOSS OF THE UNDERTAKINGS , INCLUDED IN THE CONSOLIDATION , TAKEN AS A WHOLE , IS MATERIAL , THAT FACT MUST BE DISCLOSED IN THE NOTES ON THE CONSOLIDATED ACCOUNTS.

In principle certain severe anti-competitive restraints relating to the fixing of prices charged to third parties, limitation of output or sales, and allocation of markets or customers should be excluded from the benefit of the block exemption established by this Regulation irrespective of the market share of the undertakings concerned.

For example, in a consolidated group, a parent and some of its subsidiaries may have paid income taxes at a higher rate on undistributed profits and be aware of the amount that would be refunded on the payment of future dividends to shareholders from consolidated retained earnings.

In order to determine whether a subsidy, as defined in paragraph 1 of Article 1, is specific to an enerprise or industry or group of enterprises or industries (referred to in this Agreement as 'certain enterprises') within the jurisdiction of the granting authority, the following principles shall apply:

In a typical divestment commitment, the business to be divested normally consists of a combination of tangible and intangible assets, which could take the form of a pre-existing company or group of companies, or of a business activity which was not previously incorporated in its own right.

Equally, a short preliminary notice may be published in the C series of the Official Journal of the European Communities, stating the names of the interested undertakings, the groups to which they belong, the economic sectors involved and the nature of the arrangements, and inviting third party comments (see below, operational part, Section 5).

Council Directive 94/45/EC of 22 September 1994 on the establishment of a European Works Council or a procedure in Community-scale undertakings and Community-scale groups of undertakings for the purposes of informing and consulting employees (OJ L 254, 30.9.1994, p. 64), as amended by Directive 97/74/EC (OJ L 10, 16.1.1998, p. 22).

Whereas, in order to maintain legal certainty of undertakings and a homogeneous European Economic Area, Commission Regulation (EC) No 2236/97 of 10 November 1997 amending Regulations (EEC) No 417/85 and (EEC) No 418/85 on the application of the Treaty to categories of specialisation agreements and of research and development agreements respectively (4), is to be incorporated into the Agreement,

"Occupational social security schemes" means schemes not governed by Directive 79/7/EEC whose purpose is to provide workers, whether employees or self-employed, in an undertaking or group of undertakings, area of economic activity, occupational sector or group of sectors with benefits intended to supplement the benefits provided by statutory social security schemes or to replace them, whether membership of such schemes is compulsory or optional.

operations carried out by organisations other than undertakings referred to in Article 2, whose object is to provide benefits for employed or self-employed persons belonging to an undertaking or group of undertakings, or a trade or group of trades, in the event of death or survival or of discontinuance or curtailment of activity, whether or not the commitments arising from such operations are fully covered at all times by mathematical provisions;

the name, business name or the trade mark used by that undertaking, which may be a trade mark used collectively by a number of undertakings, may be shown if it contains no statement or symbol incompatible with this Regulation relating to the quality or freshness of the eggs, to the type of farming used for their production or to the origin of the eggs;

Comprise youth hostels, tourist dormitories, group accommodation, holiday homes for the elderly, holiday accommodation for employees and workers' hotels, hall of residence for students and school dormitories, and other similar facilities that come under common management, have a social interest and are often subsidised.

If a single financial report contains both consolidated financial statements of an enterprise whose securities are publicly traded and the separate financial statements of the parent or one or more subsidiaries, segment information need be presented only on the basis of the consolidated financial statements.

Member States may derogate from Article 9 (1), Article 19 (1) (a), first sentence, and (b) and from Articles 25, 26 and 29 to the extent that such derogations are necessary for the adoption or application of provisions designed to encourage the participation of employees, or other groups of persons defined by national law, in the capital of undertakings.

Where, however, a Member State's interests are grouped together in holding companies, or are managed together, or where for other reasons it is clear that State-owned companies form part of an 'economic unit with an independent power of decision`, then the turnover of those businesses should be considered part of the group of the undertaking concerned's for the purposes of Article 5.

The information required above shall be supplied separately for each public undertaking including those located in the Member States, and shall include, where appropriate, details of all intra- and inter-group transactions between different public undertakings, as well as transactions conducted direct between public undertaking and the State.

WITHOUT PREJUDICE TO ARTICLES 4 (2) AND 5 , A MEMBER STATE MAY PROVIDE FOR AN EXEMPTION FROM THE OBLIGATION IMPOSED IN ARTICLE 1 (1) IF AS AT THE BALANCE SHEET DATE OF A PARENT UNDERTAKING THE UNDERTAKINGS TO BE CONSOLIDATED DO NOT TOGETHER , ON THE BASIS OF THEIR LATEST ANNUAL ACCOUNTS , EXCEED THE LIMITS OF TWO OF THE THREE CRITERIA LAID DOWN IN ARTICLE 27 OF DIRECTIVE 78/660/EEC.

In those situations where a State-owned company merges with or acquires control of another company controlled by the same State (21), the question arises as to whether these transactions really constitute concentrations within the meaning of Article 3 of the Merger Regulation or rather internal restructuring operations of the 'public sector group of companies` (22).

However, given that the company which cooperated in the Philippines is part of a group of companies of which a complainant is also part, the Commission also considered it necessary to analyse the implications of the existence of such links, with a view to determining whether this situation had any distorting effect on the data submitted and, accordingly, whether this information could or could not be used in the framework of the current review investigation.

Whereas, in order to maintain legal certainty of undertakings and a homogeneous European Economic Area, Commission Regulation (EC) No 1582/97 of 30 July 1997 amending Regulations (EEC) No 1983/83 and (EEC) No 1984/83 on the application of Article 85(3) of the Treaty to categories of exclusive distribution agreements and exclusive purchasing agreements respectively (4), is to be incorporated into the Agreement,

Payment to producer groups of the amounts referred to in paragraphs 1 and 2, and payment of the purchase price to producers by first processors may be made only by bank or postal transfer, to accounts earmarked for such payments the numbers of which shall be communicated to the competent control body and which, in the case of a producer group, must be linked to payments to individual producer group members."

'Occupational social security schemes' means schemes not governed by Directive 79/7/EEC whose purpose is to provide workers, whether employees or self-employed, in an undertaking or group of undertakings, area of economic activity or occupational sector or group of such sectors with benefits intended to supplement the benefits provided by statutory social security schemes or to replace them, whether membership of such schemes is compulsory or optional.