Does WEA take into account the financials of parent companies of new applicants? How does WEA check parent company guarantees?
When considering whether an applicant is ‘fit and proper’, WEA may consider the financial resources available through a related body corporate and the support it can provide to the applicant in carrying out its export proposal. For example, a parent company could provide a written assurance that it will honour all financial commitments of the subsidiary seeking accreditation. This will only be considered in favour of the applicant where WEA is satisfied that the resources of the related body corporate are, and will continue to be, available to the applicant through binding legal arrangements between the entities.
- If a child company (owned by a parent company) has an individual agreement, can the parent company use the same key to deploy a product across both companies?
- Does WEA take into account the financials of parent companies of new applicants? How does WEA check parent company guarantees?
- When must a parent company prepare group accounts under the Companies Act 1985?