DTR 4.3A Reports on payments to governments
Application
1Subject to the exemptions set out in DTR 4.4 (Exemptions) this section applies to an issuer:
- (1)
active in the extractive or logging of primary forest industries;
- (2)
whose transferable securities are admitted to trading; and
- (3)
whose Home State is the United Kingdom.
In this section references to an “issuer active in the extractive or logging of primary forest industries” are to an issuer:
- (1)
active in the extractive industry as defined in article 41(1) of the Accounting Directive; or
- (2)
active in the logging of primary forests as defined in article 41(2) of the Accounting Directive.
An issuer is considered to be active in the extractive or logging of primary forest industries if any of its subsidiary undertakings are:
- (1)
active in the extractive industry as defined in article 41(1) of the Accounting Directive; or
- (2)
active in the logging of primary forests as defined in article 41(2) of the Accounting Directive.
In this guidance “subsidiary undertaking” has the meaning given in regulation 2 of the Reports on Payments to Governments Regulations 2014 (SI 2014/3209).
[Note: article 44(1) of the Accounting Directive]
Preparation and publication of reports on payments to governments
Content of reports on payments to governments
- (1)
The report on payments to governments must be prepared in accordance with Chapter 10 of the Accounting Directive.
- (2)
Payments to governments must be reported at consolidated level.
[Note: article 6 of the TD]
The FCA considers a report on payments to governments which is prepared in accordance with the Reports on Payments to Governments Regulations 2014 (SI 2014/3209) to be in compliance with DTR 4.3A.7 R (1).