This document provides statutory definitions for terms used in this Part and Part 26, including: the "Accounting Directive" (Directive 2013/34/EU); "accounting standards" (statements and written interpretations prescribed under section 943(1)(h)); financial measures such as "amount of turnover", "turnover" (with specified deductions), "balance sheet total" and "net assets"; corporate relationships including "associated undertaking", "subsidiary undertaking", "holding undertaking" (extended to partnerships and unincorporated bodies), "higher holding undertaking", "group undertaking", "fellow subsidiary undertakings", the application of "wholly owned subsidiary", and "equity share capital".

The document also defines governance and market terms: "audit committee", "audit exemption", "audit of the statutory financial statements"; "credit institution" (four categories) and "insurance undertaking" (by specified statutory instruments); "ineligible entities" (including listed issuers, credit institutions, insurance undertakings and designated entities); "regulated market", "publish", "participating interest" and form‑specific references to "shares". It addresses derivative financial instruments (including commodity‑based contracts except where specified conditions apply), cross‑references meanings to the Accounting Directive and notes paragraph (6) is deleted.