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N.I.

Statutory Instruments

1990 No. 593 (N.I. 5)

The Companies (Northern Ireland) Order 1990

14th March 1990 F1

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F1Order repealed (prosp.) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16 and the repeal being partly in force, and brought into force on different dates, as to which see individual Articles or Schedules

PART IN.I.INTRODUCTORY

Title and commencementN.I.

1.—(1) This Order may be cited as the Companies (Northern Ireland) Order 1990 and shall come into operation on such day or days as the Head of the Department may by order appointF2.

(2) An order under paragraph (1) may—

(a)contain such transitional provisions and savings as appear to the Head of the Department to be necessary or expedient;

(b)amend any statutory provision which refers to the coming into operation of a provision brought into operation by the order so as to substitute a reference to the actual date on which it comes into operation.

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F2partly exercised by SRs 1990/246; 1991/267, 499; 1993/63; 1994/47

InterpretationN.I.

2.—(1) Subject to Articles 44(1) and 51(4) and (5), the Interpretation Act (Northern Ireland) 1954F3 shall apply to Article 1 and the following provisions of this Order as it applies to a Measure of the Northern Ireland Assembly.

(2) In this Order—

“the Department” means the Department of Economic Development;

“the 1986 Order” means the Companies (Northern Ireland) Order 1986F4;

“statutory provision” has the meaning assigned to it by section 1(f) of the Interpretation Act (Northern Ireland) 1954.

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F41986 NI 6

PART IIN.I.COMPANY ACCOUNTS

IntroductionN.I.

IntroductionN.I.

3.  F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Provisions applying to companies generallyN.I.

Accounting recordsN.I.

4.  F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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A company's financial year and accounting reference periodsN.I.

5.  F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Individual company accountsN.I.

6.  F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Group accountsN.I.

7.  F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Additional disclosure required in notes to accountsN.I.

8.  F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Approval and signing of accountsN.I.

9.  F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Directors' reportN.I.

10.  F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Auditors' reportN.I.

11.  F13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Publication of accounts and reportsN.I.

12.  F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Laying and delivering of accounts and reportsN.I.

13.  F15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Remedies for failure to comply with accounting requirementsN.I.

14.  F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Exemptions and special provisionsN.I.

Small and medium‐sized companies and groupsN.I.

15.  F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Dormant companiesN.I.

16.  F18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Public listed companies: provision of summary financial statementN.I.

17.  F19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Private companies: election to dispense with laying of accounts and reports before general meetingN.I.

18.  F20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Unlimited companies: exemption from requirement to deliver accounts and reportsN.I.

19.  F21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Banking and insurance companies and groups: special provisionsN.I.

20.  F22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Supplementary provisionsN.I.

Accounting standardsN.I.

21.  F23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Power to alter accounting requirementsN.I.

22.  F24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Parent and subsidiary undertakingsN.I.

23.  F25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Other interpretation provisionsN.I.

24.  F26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Article 25—Amendments

Article 26—Repeals

PART III F27N.I.ELIGIBILITY FOR APPOINTMENT AS COMPANY AUDITOR

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F27mod. by SI 2005/18

IntroductionN.I.

IntroductionN.I.

27.  F28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Eligibility for appointmentN.I.

Eligibility for appointmentN.I.

28.  F29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Effect of appointment of partnershipN.I.

29.  F30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Ineligibility on ground of lack of independenceN.I.

30.  F31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Effect of ineligibilityN.I.

31.  F32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Power of Department to require second auditN.I.

32.  F33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Recognition of supervisory bodies and professional qualificationsN.I.

Supervisory bodiesN.I.

33.  F34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Meaning of “appropriate qualification”N.I.

34.  F35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Qualifying bodies and recognised professional qualificationsN.I.

35.  F36. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Approval of overseas qualificationsN.I.

36.  F37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Duties of recognised bodiesN.I.

The register of auditorsN.I.

37.  F38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Information about firms to be available to publicN.I.

38.  F39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Matters to be notified to the DepartmentN.I.

39.  F40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Power to call for informationN.I.

40.  F41. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Compliance ordersN.I.

41.  F42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Directions to comply with international obligationsN.I.

42.  F43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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OffencesN.I.

False and misleading statementsN.I.

43.  F44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Offences by bodies corporate, partnerships and unincorporated associationsN.I.

44.  F45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Time limits for prosecution of offencesN.I.

45.  F46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Jurisdiction and procedure in respect of offencesN.I.

46.  F47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Supplementary provisionsN.I.

FeesN.I.

47.  F48. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Delegation of functions of DepartmentN.I.

48.  F49. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

  

F50
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Art. 49 rep. by 2004 c. 27

Exemption from liability for damagesN.I.

50.  F51. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Service of noticesN.I.

51.  F52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Power to make consequential amendmentsN.I.

52.  F53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Power to make provision in consequence of changes affecting accountancy bodiesN.I.

53.  F54. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Meaning of “associate”N.I.

54.  F55. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Minor definitionsN.I.

55.  F56. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Index of defined expressionsN.I.

56.  F57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Article 57—Repeals

SCHEDULES

N.I.

Schedule 1—Amendments

N.I.

Schedule 2—Amendments

N.I.

Schedule 3—Amendments

N.I.

Schedule 4—Amendments

N.I.

Schedule 5—Amendments

N.I.

Schedule 6—Amendments

N.I.

Schedule 7—Amendments

N.I.

Schedule 8—Amendments

N.I.

Schedule 9—Amendments

N.I.

Schedule 10—Amendments

F58SCHEDULE 11N.I.

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F59PART IN.I.GRANT AND REVOCATION OF RECOGNITION

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Application for recognition of supervisory bodyN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

1.  F60. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Grant and refusal of recognitionN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

2.  F61. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Revocation of recognitionN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

3.  F62. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F63PART IIN.I.REQUIREMENTS FOR RECOGNITION

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Holding of appropriate qualificationN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

4.  F64. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

5.  F65. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Auditors to be fit and proper personsN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

6.  F66. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Professional integrity and independenceN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

7.  F67. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Technical standardsN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

8.  F68. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Procedures for maintaining competenceN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

9.  F69. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Monitoring and enforcementN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

10.  F70. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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N.I.

F71. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Membership, eligibility and disciplineN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

11.  F72. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Investigation of complaintsN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

12.  F73. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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N.I.

F74. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Meeting of claims arising out of audit workN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

13.  F75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Register of auditors and other information to be made availableN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

14.  F76. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Taking account of costs of complianceN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

15.  F77. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Promotion and maintenance of standardsN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

16.  F78. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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N.I.N.I.

F79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F80SCHEDULE 12N.I.

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F81PART IN.I.GRANT AND REVOCATION OF RECOGNITION

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Application for recognition of professional qualificationN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

1.  F82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

2.  F83. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Revocation of recognitionN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

3.  F84. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F85PART IIN.I.REQUIREMENTS FOR RECOGNITION

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Entry requirementsN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

4.  F86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Course of theoretical instructionN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

5.  F87. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Sufficient period of professional experienceN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

6.  F88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

ExaminationN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

7.  F89. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Practical trainingN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

8.  F90. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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The body offering the qualificationN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

9.  F91. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F92SCHEDULE 13N.I.

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IntroductoryN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

1.  F93. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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StatusN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

2.  F94. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Name, members and chairmanN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

3.  F95. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Financial provisionsN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

4.  F96. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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ProceedingsN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

5.  F97. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

FeesN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

6.  F98. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Legislative functionsN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

7.  F99. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

8.  F100. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

9.  F101. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Report and accountsN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

10.  F102. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Other supplementary provisionsN.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

11.  F103. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.

12.  F104. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

F105. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

N.I.

Schedule 14 rep. by 2004 c. 27

N.I.

Schedule 15—Repeals

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