In section 16 of the Companies (Audit, Investigations and Community Enterprise) Act 2004 (grants to bodies concerned with accounting standards), subsection (5) (definitions) is amended as follows.

In the definition of “company”M1, for “within the meaning of the Companies Act 1985 or the 1986 Order” substitute “ as defined in section 1(1) of the Companies Act 2006 ”.

In the definition of “subsidiary”M2, for “section 736 of the Companies Act 1985 or Article 4 of the 1986 Order” substitute “ section 1159 of the Companies Act 2006 ”.

Omit the definition of “the 1986 Order”.