SCHEDULE 1AMENDMENTS COMING INTO FORCE ON 6TH APRIL 2008

PART 2OTHER AMENDMENTS

Community Interest Company Regulations 2005 (S.I. 2005/1788)242

1

The Community Interest Company Regulations 2005 are amended as follows.

2

In regulation 2 (interpretation)—

a

at the appropriate place insert—

“the 2006 Act” means the Companies Act 2006;

b

in the definition of “distributable profits”M1 omit the words from “and is to be interpreted” to “available for distribution”.

3

In regulation 26 M2 (contents of community interest company report: general), omit paragraphs (1)(c) and (3).

4

For regulation 29 M3 (application of provisions relating to the directors' report) substitute—

Application of provisions relating to directors' report29

The following provisions of the 2006 Act apply to the community interest company report as they apply to the directors' report—

  • section 419 (approval and signing);

  • sections 423 to 425, 430 to 433 and 436 (publication);

  • sections 437 and 438(public companies: laying before general meeting);

  • sections 441 to 448 and 451 to 453 (filing obligations);

  • section 454 (voluntary revision).

5

In Schedules 1, 2 and 3 M4 (provisions prescribed for memorandum or articles of community interest company), in paragraph 3(5) (meaning of “financial year”), for “section 223 of the 1985 Act or Article 231 of the 1986 Order” substitute “ section 390 of the 2006 Act ”.