Explanatory Notes

Companies Act 2006

2006 CHAPTER 46

8 November 2006


Part 15: Accounts and Reports

Chapter 12: Supplementary Provisions
Section 473: Parliamentary procedure for certain regulations under this Part

717.This section specifies the Parliamentary procedure that must be followed in connection with regulations made under the various provisions of this Part which replace the requirements as to the form and content of accounts and reports currently contained in Schedules to Part 7 of the 1985 Act, and in relation to the general regulation-making power in section 468. This section follows section 257 of the 1985 Act in requiring affirmative resolution procedure for regulations which add to the documents required to be prepared by companies, restrict the exemptions available to particular classes or types of company, add to the information to be included in any particular document or otherwise make the requirements more onerous. Other regulations are subject to negative resolution procedure.