1.Until the entry into force of a Council Directive on consolidated accounts, and without prejudice to the provisions of Directive 77/91/EEC, the Member States need not apply to the dominant companies of groups governed by their national laws the provisions of this Directive concerning the auditing and publication of the profit and loss accounts of such dominant companies where the following conditions are fulfilled: (a) this exemption must be published by the dominant company in accordance with Article 47 (1); (b) the annual accounts of the dominant company must be consolidated in the group's annual accounts; (c) the exemption concerning the auditing and publication of the profit and loss account of the dominant company must be mentioned in the notes on the group's annual accounts; (d) the profit or loss of the dominant company, determined in accordance with the principles of this Directive, must be shown in the balance sheet of the dominant company.
2.Articles 47 and 51 shall apply to the group's annual accounts.
3.Articles 2 to 46 shall apply as far as possible to the group's annual accounts.