2021 No. 609
The International Accounting Standards (Delegation of Functions) (EU Exit) Regulations 2021
Made
Coming into force
The Secretary of State makes the following Regulations in exercise of the powers conferred by section 18A(1) and (3) of the Companies (Audit, Investigations and Community Enterprise) Act 2004 (“the 2004 Act”)1 and regulations 13(1) and (4) and 14(4) of the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (“the principal Regulations”)2.
It appears to the Secretary of State that—
the UK Endorsement Board is able and willing to exercise the functions transferred by regulation 2 of these Regulations, and
that body has arrangements in place relating to the exercise of those functions which are such as to be likely to ensure that—
those functions will be exercised effectively, and
in accordance with the requirements and provisions relating to the exercise of those functions specified in regulation 3 of these Regulations.
In accordance with section 18A(8) of the 2004 Act and regulation 13(8) of the principal Regulations, a draft of these Regulations was laid before Parliament and approved by a resolution of each House of Parliament.