1. Where the amendment made by paragraph 2 of Schedule 1 would (apart from this paragraph) mean that a subsidiary which immediately before [F1IP completion day] is a member of its holding company can no longer be such a member–—
(a)for the period of one year beginning on [F2IP completion day]—
(i)the amendment made by paragraph 2 of Schedule 1 to these Regulations does not apply to the subsidiary; and
(ii)section 141(2)(b) of the Act is to be read, in relation to the subsidiary, as—
“(b)is a member of or has access to an EU regulated market or UK regulated market”; and
(b)from the end of that period—
(i)the subsidiary may continue to be a member of the company; and
(ii)sections 137(3) and (4) of the Act apply to it with the following modifications—
(aa)for “this section”, read “paragraph 1(b)(i) of Schedule 4 to the Companies, Limited Liability Partnerships and Partnerships (Amendment etc.) (EU Exit) Regulations 2019”; and
(bb)in subsection (4), for “mentioned in subsection (1) above” read “held at the end of the period of one year beginning on [F3IP completion day]”.
Textual Amendments
F1Words in Sch. 4 para. 1 substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(a)(i)
F2Words in Sch. 4 para. 1(a) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(a)(ii)
F3Words in Sch. 4 para. 1(b) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(a)(iii)
Commencement Information
I1Sch. 4 para. 1 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2
2.—(1) Where the amendments made by paragraphs 4 and 5 of Schedule 1 would (apart from this paragraph) require a company's register of directors or register of secretaries to contain additional particulars in respect of an existing corporate director or secretary, the company need not comply with that requirement until three months after [F4IP completion day].
(2) Where the amendments made by paragraph 23 of Schedule 3 would (apart from this paragraph) require a limited liability partnership's register of members to contain additional particulars in respect of an existing corporate member or firm, the limited liability partnership need not comply with that requirement until three months after [F5IP completion day].
(3) Where the amendment made by paragraph 4 of Schedule 1 would (apart from this paragraph) require notice to be given under regulation 5(3D) of the European Economic Interest Grouping Regulations 1989 M1 (notification of changes to the particulars of a manager of a grouping), that requirement need not be complied with until three months after [F6IP completion day].
(4) In this paragraph—
“existing corporate director or secretary” means a body corporate, or a firm that is a legal person under the law by which it is governed, whose particulars were contained in the company's register of directors or register of secretaries immediately before [F7IP completion day];
“existing corporate member or firm” means a body corporate, or a firm that is a legal person under the law by which it is governed, whose particulars were contained in the limited liability partnership's register of members immediately before [F7IP completion day].
Textual Amendments
F4Words in Sch. 4 para. 2(1) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(b)(i)
F5Words in Sch. 4 para. 2(2) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(b)(ii)
F6Words in Sch. 4 para. 2(3) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(b)(iii)
F7Words in Sch. 4 para. 2(4) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(b)(iv)
Commencement Information
I2Sch. 4 para. 2 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2
Marginal Citations
M1S.I. 1989/638; relevant amendment was made by regulation 5(6) of S.I. 2014/2382.
3.—(1) This paragraph applies to a company that is an investment company within the meaning of section 833 of the Act immediately before [F8IP completion day].
(2) For the period of one year beginning on [F9IP completion day]—
(a)the amendment made by paragraph 12 of Schedule 1 does not apply to the company;
(b)section 832 of the Act applies to the company as if subsection (5)(a) was substituted by—
“(a)the company's shares must be shares admitted to trading on a UK regulated market or an EU regulated market”.
Textual Amendments
F8Words in Sch. 4 para. 3(1) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(c)(i)
F9Words in Sch. 4 para. 3(2) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(c)(ii)
Commencement Information
I3Sch. 4 para. 3 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2