- Latest available (Revised)
- Original (As enacted)
The term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section. A version of a provision is prospective either:
Commencement Orders listed in the ‘Changes to Legislation’ box as not yet applied may bring this prospective version into force.
There are outstanding changes not yet made by the legislation.gov.uk editorial team to Companies (Audit, Investigations and Community Enterprise) Act 2004. Any changes that have already been made by the team appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
This section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
This section lists the commencement orders yet to be applied to the whole Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.
Commencement Orders bringing legislation that affects this Act into force:
(1)For section 390B of the Companies Act 1985 (c. 6) substitute—
(1)The Secretary of State may make provision by regulations for securing the disclosure of—
(a)the nature of any services provided for a company by the company’s auditors (whether in their capacity as such or otherwise) or by their associates;
(b)the amount of any remuneration received or receivable by a company’s auditors, or their associates, in respect of any services within paragraph (a).
(2)The regulations may provide—
(a)for disclosure of the nature of any services provided to be made by reference to any class or description of services specified in the regulations (or any combination of services, however described);
(b)for the disclosure of amounts of remuneration received or receivable in respect of services of any class or description specified in the regulations (or any combination of services, however described);
(c)for the disclosure of separate amounts so received or receivable by the company’s auditors or any of their associates, or of aggregate amounts so received or receivable by all or any of those persons.
(3)The regulations may—
(a)provide that “remuneration” includes sums paid in respect of expenses;
(b)apply to benefits in kind as well as to payments of money, and require the disclosure of the nature of any such benefits and their estimated money value;
(c)apply to services provided for associates of a company as well as to those provided for a company;
(d)define “associate” in relation to an auditor and a company respectively.
(4)The regulations may provide that any disclosure required by the regulations is to be made—
(a)in a note to the company’s annual accounts (in the case of its individual accounts) or in such manner as is specified in the regulations (in the case of group accounts),
(b)in the directors' report required by section 234, or
(c)in the auditors' report under section 235.
(5)If the regulations provide that any such disclosure is to be made as mentioned in subsection (4)(a) or (b), the regulations may—
(a)require the auditors to supply the directors of the company with any information necessary to enable the disclosure to be made;
(b)provide for any provision within subsection (6) to apply in relation to a failure to make the disclosure as it applies in relation to a failure to comply with a requirement of this Act or (as the case may be) a provision of Part 7.
(6)The provisions are—
(a)sections 233(5) and 234(5); and
(b)any provision of sections 245 to 245C.
(7)The regulations may make different provision for different cases.
(8)Nothing in subsections (2) to (7) affects the generality of subsection (1).
(9)Regulations under this section shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.”
(2)In section 390A of the Companies Act 1985 (c. 6) (remuneration of auditors)—
(a)subsection (3) (auditors' remuneration to be disclosed in note to accounts) accordingly ceases to have effect, and
(b)in subsection (5) (application to benefits in kind), for the words from “payments in cash” onwards substitute “ payments of money. ”
(3)In paragraph 1(1) of Schedule 4A to that Act (form and contents of group accounts), omit “section 390A(3) (amount of auditors' remuneration) and”.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: