Modifications etc. (not altering text)
C1Pt. VII (ss. 221–262) applied with modifications by S.I. 1985/680, regs. 4–6, Sch.
C2Part VII (ss. 221-262) continued by S.I. 1990/355, arts. 6, 7, Sch. 2 para. 13(1)(a)
C3Part VII (ss. 221-262) amended by S.I. 1990/355, arts. 6, 7, Sch. 2 para. 1(2)(5)
C4Part VII (ss. 221-262) extended by S.I. 1990/355, arts. 6, 7, Sch. 2 para. 1(3)(5)
C5Part VII (ss. 221-262) modified by S.I. 1990/355, arts. 6, 7, Sch. 2 paras. 1(4)(5), 3(2)(3)
C6Part VII (ss. 221-262) excluded by S.I. 1990/355, arts. 6, 7, Sch. 2 para. 3(1)(3)
C7Part VII (ss. 221-262) restricted by S.I. 1990/355, arts. 6, 7, Sch. 2 para. 13(1)(b)
Pt. VII (ss. 221-262) applied (with modifications) (21.7.1993) by S.I. 1993/1820, reg. 4, Sch. paras.1, 2 (as amended (1.10.2005) by S.I. 2005/1987, reg. 3)
Pt. VII (ss. 221-262) applied (with modifications) (6.4.2001) by S.I. 2001/1090, reg. 3, Sch. 1 (as amended (4.3.2004) by S.I. 2004/355, art. 8, (1.10.2005) by S.I. 2005/1989, reg. 2, Sch. 1 and (12.1.2006) by S.I. 2005/3442, reg. 2(2)(b), Sch. 2 para. 3(1))
C8Pt. 7 (ss. 221-262) modified (1.8.2007) by The European Grouping of Territorial Cooperation Regulations 2007 (S.I. 2007/1949), regs. 6, 7, Sch. Pt. 1
The following Table shows the provisions of this Part defining or otherwise explaining expressions used in this Part (other than expressions used only in the same section or paragraph)—
| accounting reference date and accounting reference period | section 224 |
| accounting standards and applicable accounting standards | section 256 |
| F2. . . | F2. . . |
| annual accounts (generally) | section 262(1) |
| (includes notes to the accounts) | section 261(2) |
| annual report | section 262(1) |
| associated undertaking (in Schedule 4A) | paragraph 20 of that Schedule |
| [F3auditable part (of a directors’ remuneration report) | section 235(5)] |
| balance sheet (includes notes) | section 261(2) |
| balance sheet date | section 262(1) |
| F4. . . | F4. . . |
| banking group | [F5section 255A(4)] |
| F4. . . | F4. . . |
| capitalisation (in relation to work or costs) | section 262(1) |
| [F6Companies Act accounts | Section 262(1)] |
| [F7Companies Act group accounts | Sections 227(2) and 255A(6A)] |
| [F8Companies Act individual accounts | Sections 226(2) and 255(4A)] |
| credit institution | section 262(1) |
| current assets | section 262(1) |
| [F9directors' report | section 23] |
| F10. . .” | F10. . . |
| [F11e-money issuer | section 262;] |
| fellow subsidiary undertaking | section 259(4) |
| [F12financial fixed assets (in Schedule 9)] | [F12paragraph 82 of Part I of that Schedule] |
| financial year | section 223 |
| fixed assets | section 262(1) |
| [F13 “general business” (in Schedule 9A) | paragraph 81 of Part I of that Schedule] |
| group | section 262(1) |
| [F14group accounts | Section 227(1)] |
| [F15group directors' report | section 234] |
| F16. . . | F16. . . |
| group undertaking | section 259(5) |
| [F17historical cost accounting rules] | |
| [F17—in Schedule 4] | [F17paragraph 29 of that Schedule] |
| [F18—in Schedule 8 | paragraph 29 of that Schedule] |
| [F17—in Schedule 9] | [F17paragraph 39 of Part I of that Schedule] |
| [F19—in Schedule 9A | paragraph 20(1) of Part I of that Schedule] |
| [F20IAS accounts | Section 262(1)] |
| [F21 IAS group accounts | Section 227(2) and (3)] |
| [F22IAS individual accounts | Section 226(2)] |
| [F23IAS Regulation | Section 262(1)] |
| included in the consolidation and related expressions | section 262(1) |
| individual accounts | section 262(1) |
| insurance group | [F5section 255A(5)] |
| [F24international accounting standards | Section 262(1)] |
| F25. . . | F25. . . |
| land of freehold tenure and land of leasehold tenure (in relation to Scotland)— in Schedule 4 | paragraph 93 of that Schedule |
| [F26—in Schedule 9] | [F26paragraph 86 of Part I of that Schedule] |
| [F27—inSchedule 9A | paragraph 85 of Part I of that Schedule] |
| lease, long lease and short lease— in Schedule 4 | paragraph 83 of that Schedule |
| [F26- in Schedule 9] | [F26paragraph 82 of Part I of that Schedule] |
| [F28—in Schedule 9A | paragraph 81 of Part I of that Schedule] |
| listed investment—in Schedule 4 | paragraph 84 of that Schedule |
| [F29—in Schedule 8 | paragraph 54 of that Schedule] |
| [F30—in Schedule 9A | paragraph 81 of Part I of that Schedule] |
| [F12listed security (in Schedule 9)] | [F12paragraph 82 of Part I of that Schedule] |
| [F13 “long term business” (in Schedule 9A) | paragraph 81 of Part I of that Schedule] |
| [F13 “long term fund” (in Schedule 9A) | paragraph 81 of Part I of that Schedule] |
| [F31 “MiFID investment firm” | section 262(1)] |
| notes to the accounts | section 261(1) |
| F32. . . | F32. . . |
| parent undertaking (and parent company) | section 258 and Schedule 10A |
| participating interest | section 260 |
| [F33pension costs—in Schedule 4 | F33paragraph 94(2) of that Schedule] |
| [F33—in Schedule 8 | F33paragraph 59(2) of that Schedule] |
| [F33—in Schedule 9 | F33paragraph 87(b) of Part I of that Schedule] |
| [F33—in Schedule 9A | F33paragraph 86(b) of Part I of that Schedule] |
| period allowed for laying and delivering accounts and reports | section 244 |
| [F13 “policy holder” (in Schedule 9A) | paragraph 81 of Part I of that Schedule] |
| profit and loss account(includes notes) | section 261(2) |
| [F34(in relation to IAS accounts) | Section 262(1)] |
| (in relation to a company not trading for profit) | section 262(2) |
| [F13 “provision for unexpired risks” (in Schedule 9A) | paragraph 81 of Part I of that Schedule] |
| provision—in Schedule 4 | paragraphs 88 and 89 of that Schedule |
| [F35“—in Schedule 8 | paragraphs 57 and 58 of that Schedule] |
| [F26—in Schedule 9] | [F26paragraph 85 of Part I of that Schedule] |
| [F36—in Schedule 9A | paragraph 84 of Part I of that Schedule] |
| purchase price | section 262(1) |
| qualified | section 262(1) |
| [F37quoted company | section 262(1)] |
| realised losses and realised profits | section 262(3) |
| [F38“regulated activity” | sections 262 and 744] |
| [F12repayable on demand (in Schedule 9)] | [F12paragraph 82 of Part I of that Schedule] |
| F39. . . | F39. . . |
| F40. . . | F40. . . |
| reserve (in [F41Schedule 9A]) | paragraph 32 of that Schedule |
| [F12saleand option to resell transaction (in Schedule 9)] | [F12paragraph 82 of Part I of that Schedule] |
| [F12sale and repurchase transaction (in Schedule 9)] | [F12paragraph 82 of Part I of that Schedule] |
| shares | section 259(2) |
| [F17social security costs] | |
| [F17—in Schedule 4] | [F17paragraph 94(1) and (3) of that Schedule] |
| [F42—in Schedule 8 | paragraph 59(1) and (3) of that Schedule] |
| [F17—in Schedule 9] | [F17paragraph 87(a) and (c) of Part I of that Schedule] |
| [F43—in Schedule 9A | paragraph 86(a) and (c) of Part I of that Schedule] |
| special provisions for banking and insurance companies and groups | sections 255 and 255A |
| subsidiary undertaking | section 258 and Schedule 10A |
| [F13 “the 1982 Act” (in Schedule 9A) | paragraph 81 of Part I of that Schedule] |
| [F44true and fair view | Section 262(2A)] |
| turnover | section 262(1) |
| [F45UCITS management company | section 262.] |
| undertaking and related expressions | section 259(1) to (3)] |
Textual Amendments
F1New ss. 259–262A inserted (subject to the saving and transitional provisions in S.I. 1990/355, arts. 6–9, Sch. 2) by Companies Act 1989 (c. 40, SIF 27), ss. 1, 22, 213(2) as part of the text inserted in place of ss. 221–262 (as mentioned in s. 1(a) of the 1989 Act)
F2Words in s. 262A repealed (20.1.2007) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2006/3428, art. 7(b), Sch. 3 Pt. 1 (with arts. 6, 8, Sch. 5 (as amended by S.I. 2007/3495, art. 11, Sch. 5))
F3S. 262A: entry inserted (1.8.2002) by The Directors' Remuneration Report Regulations 2002 (S.I. 2002/1986), reg. 10(12)
F4Entries in s. 262A repealed (11.2.1994) by S.I. 1994/233, reg. 4(2) (with reg. 7)
F5References in s. 262A substituted (2.12.1991) by S.I. 1991/2705, regs. 6, 9, Sch. 2 para. 3(a).
F6Entry in s. 262A inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(2)
F7Entry in s. 262A inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(2)
F8Entry in s. 262A inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(2)
F9S. 262A: entry in table inserted (22.3.2005) by The Companies Act 1985 (Operating and Financial Review and Directors' Report etc.) Regulations 2005 (S.I. 2005/1011), reg. 19, Sch. para. 7
F10Entry in s. 262A repealed (20.10.1997) by S.I. 1997/2306, reg. 4(4)
F11S. 262A: entry relating to "e-money issuer" inserted (8.11.2006 with application as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (Small Companies' Accounts and Audit) Regulations 2006 (S.I. 2006/2782), reg. 6(4)
F12S. 262A: entries inserted (2.12.1991) by S.I. 1991/2705, regs. 6, 9, Sch. 2 para. 3(c).
F13Entries in s. 262A inserted (19.12.1993) by S.I. 1993/3246, regs. 5(1), 6, 7, Sch. 2 para. 5(a)
F14Entry in s. 262A inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(2)
F15S. 262A: entry in table inserted (22.3.2005) by The Companies Act 1985 (Operating and Financial Review and Directors' Report etc.) Regulations 2005 (S.I. 2005/1011), reg. 19, Sch. para. 7
F16S. 262A: entry in table omitted (12.1.2006) by virtue of The Companies Act 1985 (Operating and Financial Review) (Repeal) Regulations 2005 (S.I. 2005/3442), reg. 2(2)(a), Sch. 1 para. 16
F17S. 262A: entries substituted (2.12.1991) by S.I. 1991/2705, regs. 6, 9, Sch. 2 para. 3(d).
F18S. 262A: words in entry relating to "historical cost accounting rules" inserted (1.3.1997) by S.I. 1997/220, reg. 7(6)(a)
F19Entry in s. 262A inserted (19.12.1993) by S.I. 1993/3246, regs. 5(1), 6, 7, Sch. 2 para. 5(b)
F20Entry in s. 262A inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(2)
F21Entry in s. 262A inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(2)
F22Entry in s. 262A inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(2)
F23Entry in s. 262A inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(2)
F24Entry in s. 262A inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(2)
F25S. 262A: entry for "ISD investment firm" omitted (1.11.2007 with effect for financial years ending on or after that date) by virtue of The Markets in Financial Instruments Directive (Consequential Amendments) Regulations 2007 (S.I. 2007/2932), regs. 1(2), 2(7)(a) (with reg. 8)
F26Words in s. 262A inserted (2.12.1991) by S.I. 1991/2705, regs. 6, 9, Sch. 2 para. 3(e).
F27Entry in s. 262A substituted (19.12.1993) by virtue of S.I. 1993/3246, regs. 5(1), 6, 7, Sch. 2 para. 5(c)
F28Entry in s. 262A substituted (19.12.1993) by virtue of S.I. 1993/3246, regs. 5(1), 6, 7, Sch. 2 para. 5(d)
F29S. 262A: words in entry relating to "listed investment" inserted (1.3.1997) by S.I. 1997/220, reg. 7(6)(b)
F30Entry in s. 262A substituted (19.12.1993) by virtue of S.I. 1993/3246, regs. 5(1), 6, 7, Sch. 2 para. 5(e)
F31S. 262A: entry for "MiFID investment firm" inserted (1.11.2007 with effect for financial years ending on or after that date) by The Markets in Financial Instruments Directive (Consequential Amendments) Regulations 2007 (S.I. 2007/2932), regs. 1(2), 2(7)(b) (with reg. 8)
F32S. 262A: entry in table omitted (12.1.2006) by virtue of The Companies Act 1985 (Operating and Financial Review) (Repeal) Regulations 2005 (S.I. 2005/3442), reg. 2(2)(a), Sch. 1 para. 16
F33S. 262A: entry substituted (1.3.1997) by S.I. 1997/220, reg. 7(6)(c)
F34Entry in s. 262A inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(3)
F35S. 262A: words in entry relating to "provision" inserted (1.3.1997) by S.I. 1997/220, reg. 7(6)(d)
F36Entry in s. 262A substituted (19.12.1993) by virtue of S.I. 1993/3246, regs. 5(1), 6, 7, Sch. 2 para. 5(g)
F37S. 262A: entry inserted (1.8.2002) by The Directors' Remuneration Report Regulations 2002 (S.I. 2002/1986), reg. 10(12)
F38S. 262A: entry in table inserted (5.9.2005 with application as mentioned in art. 1(2) of the amending S.I.) by The Companies Act 1985 (Investment Companies and Accounting and Audit Amendments) Regulations 2005 (S.I. 2005/2280), reg. 17(2)
F39S. 262A: entry for "reporting accountant" repealed (1.4.2008) by Companies Act 2006 (c. 46), ss. 1175, 1295, 1300, Sch. 9 para. 8, Sch. 16; S.I. 2008/674, art. 3, Sch. 1 (with savings in art. 6)
F40S. 262A: entry in table omitted (12.1.2006) by virtue of The Companies Act 1985 (Operating and Financial Review) (Repeal) Regulations 2005 (S.I. 2005/3442), reg. 2(2)(a), Sch. 1 para. 16
F41Words in s. 262A substituted (2.12.1991) by S.I. 1991/2705, regs. 6, 9, Sch. 2 para. 3(b).
F42S. 262A: words in entry relating to "social security costs" inserted (1.3.1997) by S.I. 1997/220, reg. 7(6)(e)
F43Entry in s. 262A inserted (19.12.1993) by S.I. 1993/3246, regs. 5(1), 6, 7, Sch. 2 para. 5(h)
F44Entry in s. 262A substituted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 21(4)
F45S. 262A: definition of "UCITS management company" inserted (8.11.2006 with application as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (Small Companies' Accounts and Audit) Regulations 2006 (S.I. 2006/2782), reg. 6(4)