Examples of Separate Business in a sentence
In this regard the Licensee shall not be required to prepare such financial statements as if they were annual accounts (in relation to each Separate Business) prepared under Article 236 of the Companies (Northern Ireland) Order 1986, but shall be required to prepare such accounts in accordance with this Condition.
References in this Condition to costs or liabilities of, or reasonably attributable to, any Separate Business shall be construed as excluding taxation, capital liabilities which do not relate principally to a particular Separate Business, and interest therein; and references to any accounting statement shall be construed accordingly.
The Authority may, from time to time, direct that the definition of “Separate Business” is, for the purposes of this Condition 1.3, modified so that the activities of the Licensee connected with the supply of has to such class, or classes, of consumer as may be designated in the direction shall each be treated as a Separate Business.
The Licensee shall keep proper books of account and records in such a form that the revenues and costs, assets and liabilities of, or reasonably attributable to, each Separate Business are separately identifiable in the books of the Licensee from those of any other business.
The Licensee shall set out in notes to its annual accounts any transactions relating to any Separate Business over £500,000 with related undertakings.