Do I understand it correctly from these new definitions that a "Group" is a company️ and its subsidiaries but NOT a natural person who owns multiple companies?
Situation A: Company B is owned by Company A. These companies purchases services from each other = Connected Person
Situation B: Company A and company B are owned individually by a natural person. Company A purchase services from Company B = NOT Connected Person
I base this on this:
As per my understanding consolidated financial statements are only a requirement in situation A, when a company owns shares in another company but in situation B, you would not do consolidated financial statements, therefore︀ it would not be called a Group per this definition.
Therefore if you are in︁ situation B, you are NOT required to do comply with ERS?
