Companies Act 2014 section 1595

Conditions to be met for exemption in section 1594

Section 1595 sets out the conditions that a subsidiary undertaking must satisfy in order to avail of the exemption from individual sustainability reporting under section 1594.

• The subsidiary's directors' report must identify the parent undertaking providing group-level sustainability reporting, include website links to the parent's group report and assurance opinion, and confirm the subsidiary's exempt status
• Where the parent is a third-country (non-EU/EEA) undertaking, its consolidated sustainability reporting and assurance opinion must be published in compliance with EU requirements, and EU Taxonomy disclosures covering the subsidiary's activities must be included
• If the parent's group reporting is not in English or Irish, a certified translation into one of those languages must be annexed to the subsidiary's directors' report
• A subsidiary already exempt from certain financial filing requirements under section 357 does not need to provide the parent identification and website link disclosures, provided it publishes a group directors' report under the relevant sections

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