An issuer is considered to be active in the extractive or logging of primary forest industries if any of its subsidiary undertakings are:
active in the extractive industry as defined in article 41(1) of the Accounting Directive; or
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]
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).