- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
1. The Companies Act 2006(1) is amended in accordance with this Chapter.
2. In section 383(6), for “international accounting standards” substitute “UK-adopted international accounting standards”.
3. In section 386(2)(c) and (5), omit “(and, where applicable, of Article 4 of the IAS Regulation)”.
4. In section 388(3)(b), omit “(and, where applicable, of Article 4 of the IAS Regulation)”.
5. In section 394A(2)(c)(ii)(2), for “international accounting standards” substitute “UK-adopted international accounting standards”.
6. In section 395(1)(b) and (3)(3), for “international accounting standards” substitute “UK-adopted international accounting standards”.
7. In section 397(2)(4), for “international accounting standards” substitute “UK-adopted international accounting standards”.
8. In section 400(2)(b)(ii), for “international accounting standards” substitute “UK-adopted international accounting standards”.
9. In section 401(2)(b)(iii)(5), for “international accounting standards adopted pursuant to the IAS Regulation” substitute “UK-adopted international accounting standards”.
10. In section 403(6)—
(a)for subsection (1) substitute—
“(1) The group accounts of a parent company whose securities are, on its balance sheet date, admitted to trading on a UK regulated market must be prepared in accordance with UK-adopted international accounting standards (“IAS group accounts”).”;
(b)in subsections (2)(b) and (4), for “international accounting standards” substitute “UK-adopted international accounting standards”.
11. In section 406(2)(7), for “international accounting standards” substitute “UK-adopted international accounting standards”.
12. In section 414(4), omit “(and, where applicable, of Article 4 of the IAS Regulation)”.
13. In section 448A(2)(c)(ii)(8), for “international accounting standards” substitute “UK-adopted international accounting standards”.
14. In section 454(1)(9) and (2)(a), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.
15. In section 455(1)(10) and (4)(b), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.
16. In section 456(1)(11), (5) and (6), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.
17. In section 457(1)(a)(12), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.
18. In section 459(1)(13), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.
19. In section 466(6), for “international accounting standards” substitute “UK-adopted international accounting standards”.
20. In section 472(2), for “international accounting standards” substitute “UK-adopted international accounting standards”.
21. In section 474(1)(14)—
(a)omit the definition of “IAS Regulation”;
(b)in the definition of “international accounting standards”, for “the IAS Regulation, adopted from time to time by the European Commission in accordance with that Regulation” substitute “Article 2 of Regulation (EC) No. 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards”;
(c)in the definition of “profit and loss account”, for “international accounting standards” substitute “UK-adopted international accounting standards”;
(d)after the definition of “UCITS management company” insert—
““UK-adopted international accounting standards” means the international accounting standards which are adopted for use within the United Kingdom by virtue of Chapter 2 or 3 of Part 2 of the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019.”.
22. In section 479A(2)(c)(ii)(15), for “international accounting standards” substitute “UK-adopted international accounting standards (within the meaning given by section 474(1))”.
23. In section 495(3)(c), omit “(and, where applicable, Article 4 of the IAS Regulation)”.
24. In section 910(3), omit “(and where relevant Article 4 of the IAS Regulation)”.
25. In section 925(3), omit “(and where relevant Article 4 of the IAS Regulation)”.
26. In Schedule 8, in the index of defined expressions—
(a)omit the entry for “IAS Regulation (in Part 15)”;
(b)after the entry for “UCITS management company”, insert—
“UK-adopted international accounting standards (in Part 15) | section 474(1)”. |
Section 394A was inserted by S.I. 2012/2301.
Section 395(3) was amended by S.I. 2012/2301.
Section 397 was substituted by S.I. 2015/980.
Section 401(2)(b) was substituted by S.I. 2015/980.
Section 403(4) was amended by S.I. 2012/2301.
Section 406 was substituted by S.I. 2015/980.
Section 448A was inserted by S.I. 2012/2301. There are no relevant amendments.
Section 454(1) was amended by S.I. 2013/1970.
Section 455(1) was amended by S.I. 2013/1970.
Section 456(1) was amended by S.I. 2013/1970.
Section 457(1)(a) was amended by S.I. 2013/1970.
Section 459(1) was amended by S.I. 2013/1970.
There are amendments to section 474(1) but none is relevant.
Section 479A was inserted by S.I. 2012/2301. There are no relevant amendments.
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