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Companies Act 2006

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Companies subject to public sector auditE+W+S+N.I.

482Non-profit-making companies subject to public sector auditE+W+S+N.I.

(1)The requirements of this Part as to audit of accounts do not apply to a company for a financial year if it is non-profit-making and its accounts—

[F1(a)are subject to audit by the Comptroller and Auditor General by virtue of an order under section 25(6) of the Government Resources and Accounts Act 2000;

(ab)are subject to audit by the Auditor General for Wales by virtue of—

(i)an order under section 144 of the Government of Wales Act 1998, or

(ii)paragraph 18 of Schedule 8 to the Government of Wales Act 2006;]

(b)are accounts—

(i)in relation to which section 21 of the Public Finance and Accountability (Scotland) Act 2000 (asp 1) (audit of accounts: Auditor General for Scotland) applies, or

(ii)that are subject to audit by the Auditor General for Scotland by virtue of an order under section 483 (Scottish public sector companies: audit by Auditor General for Scotland); or

(c)are subject to audit by the Comptroller and Auditor General for Northern Ireland by virtue of an order under Article 5(3) of the Audit and Accountability (Northern Ireland) Order 2003 (S.I. 2003/418 (N.I. 5)).

(2)In the case of a company that is a parent company or a subsidiary undertaking, subsection (1) applies only if every group undertaking is non-profit-making.

(3)In this section “non-profit-making” has the same meaning as in[F2 Article 54 of the Treaty on the Functioning of the European Union].

(4)This section has effect subject to section 475(2) (balance sheet to contain statement that company entitled to exemption under this section).

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Amendments (Textual)

F2Words in s. 482(3) substituted (1.8.2012) by The Treaty of Lisbon (Changes in Terminology or Numbering) Order 2012, art. 3(1), {Sch. Pt. 1} (with art. 2(2))

483Scottish public sector companies: audit by Auditor General for ScotlandE+W+S+N.I.

(1)The Scottish Ministers may by order provide for the accounts of a company having its registered office in Scotland to be audited by the Auditor General for Scotland.

(2)An order under subsection (1) may be made in relation to a company only if it appears to the Scottish Ministers that the company—

(a)exercises in or as regards Scotland functions of a public nature none of which relate to reserved matters (within the meaning of the Scotland Act 1998 (c. 46)), or

(b)is entirely or substantially funded from a body having accounts falling within paragraph (a) or (b) of subsection (3).

(3)Those accounts are—

(a)accounts in relation to which section 21 of the Public Finance and Accountability (Scotland) Act 2000 (asp 1) (audit of accounts: Auditor General for Scotland) applies,

(b)accounts which are subject to audit by the Auditor General for Scotland by virtue of an order under this section.

(4)An order under subsection (1) may make such supplementary or consequential provision (including provision amending an enactment) as the Scottish Ministers think expedient.

(5)An order under subsection (1) shall not be made unless a draft of the statutory instrument containing it has been laid before, and approved by resolution of, the Scottish Parliament.

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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.

Commencement Information

I1S. 483 wholly in force at 6.4.2008; s. 483 not in force at Royal Assent, see s. 1300; s. 473 in force for specified purposes at 20.1.2007 by S.I. 2006/3428, art. 3(3) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5); s. 483 in force at 6.4.2008 by S.I. 2007/3495, art. 3(1)(d) (with arts. 7, 12, Sch. 4 paras. 9-19)

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