The Companies Act 1985 (Miscellaneous Accounting Amendments) Regulations 1996 No. 189

Minor and consequential amendments

15.—(1) In section 231 of the 1985 Act (disclosure required in notes to accounts: related undertakings)(1) the words “5(2)” in subsection (3), and the words from “This subsection” to the end in subsection (5), are hereby repealed.

(2) In section 255A(6) (b) (modifications of references in section 230(2) to Schedule 4 where Schedule 9 or 9A apply)(2) for “paragraphs 74 to 77” substitute “75 to 77”.

(3) In paragraph 1(2) of Schedule 7 to the 1985 Act (statement of market value of fixed assets where substantially different from balance sheet amount) for “such of those assets” substitute “such of the fixed assets of the company or of any of its subsidiary undertakings”.

(4) In Schedule 8 to the 1985 Act (exemptions for small and medium-sized companies)(3)—

(a) in paragraph 15—

(i) for sub-paragraph (b) substitute—

“(b) paragraph 1(2) of Schedule 7 (statement of market value of fixed assets where substantially different from balance sheet amount)”, and

(ii) omit sub-paragraphs (c) and (e);

(b) in paragraph 23(2) for the words from “immediately above the signature” to the end substitute “above the signature required by section 233”; and

(c) in paragraph 26(3) for “paragraph 8” substitute “paragraph 24”.

(1)

Section 231 was substituted by section 6(1) of the Companies Act 1989 and amended by regulation 11(1) of S.I. 1993/1820.

(2)

Section 255A was inserted into the 1985 Act (in place of the section of the same number inserted by section 18 of the Companies Act 1989) by regulation 3 of S.I. 1991/2705, and amended by regulation 5 of S.I. 1992/3178 and by regulation 3 of S.I. 1993/3246.

(3)

Schedule 8 was substituted by section 13(2) of, and Schedule 6 to, the Companies Act 1989 and amended by regulation 4(3) of, and the Schedule to, S.I. 1992/2452 and by regulation 4 of, and paragraph 5 of Schedule 1 to, S.I. 1994/1935.