Companies Act 2006

482 Non-profit-making companies subject to public sector audit U.K.

(1) The requirements of this Part as to audit of accounts do not apply to a company for a financial year if it is non-profit-making and its accounts—

[F1 (a) are subject to audit by the Comptroller and Auditor General by virtue of an order under section 25(6) of the Government Resources and Accounts Act 2000;

(ab) are subject to audit by the Auditor General for Wales by virtue of—

(i) an order under section 144 of the Government of Wales Act 1998, or

(ii) paragraph 18 of Schedule 8 to the Government of Wales Act 2006;]

(b) are accounts—

(i) in relation to which section 21 of the Public Finance and Accountability (Scotland) Act 2000 (asp 1) (audit of accounts: Auditor General for Scotland) applies, or

(ii) that are subject to audit by the Auditor General for Scotland by virtue of an order under section 483 (Scottish public sector companies: audit by Auditor General for Scotland); or

(c) are subject to audit by the Comptroller and Auditor General for Northern Ireland by virtue of an order under Article 5(3) of the Audit and Accountability (Northern Ireland) Order 2003 (S.I. 2003/418 (N.I. 5)).

(2) In the case of a company that is a parent company or a subsidiary undertaking, subsection (1) applies only if every group undertaking is non-profit-making.

(3) In this section “non-profit-making” has the same meaning as in[F2 Article 54 of the Treaty on the Functioning of the European Union].

(4) This section has effect subject to section 475(2) (balance sheet to contain statement that company entitled to exemption under this section).

Textual Amendments

F1 S. 482(1)(a)(ab) substituted for s. 482(1)(a) (6.11.2009) by The Government of Wales Act 2006 (Consequential Modifications, Transitional Provisions and Saving) Order 2009 (S.I. 2009/2958), art. 10(2)

F2 Words in s. 482(3) substituted (1.8.2012) by The Treaty of Lisbon (Changes in Terminology or Numbering) Order 2012, art. 3(1), {Sch. Pt. 1} (with art. 2(2))