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the words “5(2)” in subsection (3), and the words from “This subsection” to the end in subsection (5), are hereby repealed.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”.
Section 231 was substituted by section 6(1) of the Companies Act 1989 and amended by regulation 11(1) of S.I. 1993/1820.