‘Group’ means:

(a)   a collection of entities which are related through ownership or control as defined by the acceptable accounting framework for the preparation of consolidated financial statements by the ultimate parent entity, including any entity that may have been excluded from the consolidated financial statements of the ultimate parent entity solely based on its small size, materiality grounds or on the grounds that it is held for sale; and

(b)   an entity that has one or more permanent establishments, provided that it is not part of another group as defined in point (a);

‘MNE group’ means any group that includes at least one entity or permanent establishment which is not located in the jurisdiction of the ultimate parent entity;

‘Large-scale domestic group’ means any group of which all entities are located in the same Member State;

‘Consolidated financial statements’ means:

(a)   the financial statements prepared by an entity in accordance with an acceptable financial accounting standard, in which the assets, liabilities, income, expenses and cash flows of that entity and of any entities which it controls are presented as those of a single economic unit;

(b)   for groups as defined in point 3(b), the financial statements prepared by a main entity in accordance with an acceptable financial accounting standard;

(c)   the financial statements that are not prepared by an ultimate parent entity in accordance with an acceptable financial accounting standard and that have been subsequently adjusted to prevent any material competitive distortions; or

(d)   where the ultimate parent entity does not prepare financial statements as described in points (a), (b) or (c), the financial statements that would have been prepared if the ultimate parent entity was required to prepare such financial statements in accordance with:

(i)    an acceptable financial accounting standard; or

(ii)   another financial accounting standard and provided such financial statements have been adjusted to prevent any material competitive distortions;

‘Acceptable financial accounting standard’ means international financial reporting standards (IFRS and IFRS as adopted by the EU pursuant to Regulation (EC) No 1606/2002) and the generally accepted accounting principles of Australia, Brazil, Canada, the Member States of the European Union, the members of the European Economic Area, Hong-Kong (China), Japan, Mexico, New-Zealand, the People’s Republic of China, the Republic of India, the Republic of Korea, Russia, Singapore, Switzerland, the United Kingdom and the United States of America;

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