- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (03/09/2020)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 31/12/2020
Point in time view as at 03/09/2020. This version of this provision has been superseded.
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There are currently no known outstanding effects for the Companies Act 2006, Section 399.
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F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)If at the end of a financial year [F2a company] is a parent company the directors, as well as preparing individual accounts for the year, must prepare group accounts for the year unless the company is exempt from that requirement.
[F3(2A)A company is exempt from the requirement to prepare group accounts if—
(a)at the end of the financial year, the company—
(i)is subject to the small companies regime, or
(ii)would be subject to the small companies regime but for being a public company, and
(b)is not a member of a group which, at any time during the financial year, has an undertaking falling within subsection (2B) as a member.
(2B)An undertaking falls within this subsection if—
(a)it is established under the law of an EEA State,
(b)it has to prepare accounts in accordance with Directive 2013/34/EU of the European Parliament and of the Council on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, and
(c)it is—
(i)an undertaking which has been designated by an EEA State as a public-interest entity under that Directive,
(ii)an undertaking whose transferable securities are admitted to trading on a regulated market in an EEA State,
(iii)a credit institution within the meaning given by Article 4(1)(1) of Regulation (EU) No. 575/2013 of the European Parliament and of the Council, other than one listed in Article 2 of Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and investment firms, or
(iv)an insurance undertaking within the meaning given by Article 2(1) of Council Directive 91/674/EEC of the European Parliament and of the Council on the annual accounts of insurance undertakings.]
(3)There are [F4further] exemptions under–
section 400 (company included in EEA accounts of larger group),
section 401 (company included in non-EEA accounts of larger group), and
section 402 (company none of whose subsidiary undertakings need be included in the consolidation).
(4)A company F5... which is exempt from the requirement to prepare group accounts, may do so.
Textual Amendments
F1S. 399(1) omitted (with application in accordance with reg. 1(2) of the amending S.I.) by virtue of The Companies, Partnerships and Groups (Accounts and Non-Financial Reporting) Regulations 2016 (S.I. 2016/1245), regs. 1(1), 3(4)(a)
F2Words in s. 399(2) substituted (with application in accordance with reg. 1(2) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Non-Financial Reporting) Regulations 2016 (S.I. 2016/1245), regs. 1(1), 3(4)(b)
F3S. 399(2A)(2B) substituted for s. 399(2A) (with application in accordance with reg. 1(2) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Non-Financial Reporting) Regulations 2016 (S.I. 2016/1245), regs. 1(1), 3(4)(c)
F4Word in s. 399(3) inserted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 5(6)(b) (with reg. 3)
F5Words in s. 399(4) omitted (with application in accordance with reg. 1(2) of the amending S.I.) by virtue of The Companies, Partnerships and Groups (Accounts and Non-Financial Reporting) Regulations 2016 (S.I. 2016/1245), regs. 1(1), 3(4)(d)
Modifications etc. (not altering text)
C1S. 399 applied (with modifications) (1.10.2009) by The Overseas Companies Regulations 2009 (S.I. 2009/1801), reg. 38 (with Sch. 8)
C2S. 399 applied (with modifications) (1.10.2009) by The Overseas Companies Regulations 2009 (S.I. 2009/1801), reg. 53 (with Sch. 8)
C3Ss. 380-414 applied (with modifications) (1.10.2009) by S.I. 2009/2436, regs. 3-5, Sch 1 para. 10 (with reg. 7, Sch. 2) (and the said Sch. 1 para. 10 is amended (with application in accordance with reg. 1(3) of the amending S.I.) by The Unregistered Companies (Amendment) Regulations 2013 (S.I. 2013/1972), regs. 1(2), 2(2)(a))
C4Ss. 398-408 applied (with modifications) (1.10.2008) by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 (S.I. 2008/1911), reg. 10 (as amended (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 9); (as amended (with effect in accordance with reg. 2(5)(b) of the amending S.I.) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), Sch. 3 para. 3 (with reg. 2(6)(7))
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