Partnerships and Unlimited Companies (Accounts) Regulations (Northern Ireland) 1994

Regulation 4

SCHEDULE Modifications and Adaptations for purposes of Regulation 4

1.—(1) Accounts prepared under regulation 4 shall comply with the requirements of Part VIII of the 1986 Order as to the content of accounts subject to the following, namely—

(a) the provisions of Article 267(2) and (3) of that Order(1) (meaning of “undertaking” and related expressions).

(b) the omission of the provisions mentioned in paragraph 2(1), and

(c) any necessary modifications to take account of the fact that partnerships are unincorporated.

(2) For the purposes of the provisions of Part VIII of the 1986 Order as applied to accounts so prepared, these Regulations shall be regarded as part of the requirements of that Order.

2.—(1) The provisions referred to in paragraph 1(1)(b) are—

(a) in Part I of Schedule 4 to the 1986 Order, paragraph 3(6) and, in paragraph 3(2), the words from “adopted” to the end;

(b) in Part II of that Schedule, paragraph 20;

(c) in Part III of that Schedule, paragraphs 36A(2), 41, 43, 44, 45(3), 50(3)(b), 51(2)(4), 53(5) and 54;

(d) in Schedule 4A to that Order(6), paragraphs 13(3) to (5), 14 and 15;

(e) in Schedule 5 to that Order(7), paragraphs 4, 5, 10, 12, 18, 19 and 29;

(f) in Schedule 6 to that Order(8), paragraphs 2 to 6, 8 and 9; and

(g) Schedule 7 to that Order(9), except paragraph 6.

(2) Sub-paragraph (1) shall not be construed as affecting the requirement to give a true and fair view under Articles 234 and 235 of the 1986 Order(10).

3.  Part III of the Companies (Northern Ireland) Order 1990 (eligibility for appointment as auditors) shall apply to auditors appointed for the purposes of regulation 4 as if qualifying partnerships were companies formed and registered under the 1986 Order, subject to any necessary modifications to take account of the fact that partnerships are unincorporated.

(1)

Article 267 was substituted by Article 24 of the Companies (Northern Ireland) Order 1990

(2)

Paragraph 36A was inserted by Article 6(2) of, and paragraph 7 of Schedule 1 to, the Companies (Northern Ireland) Order 1990

(3)

Paragraph 45 was amended by section 212(2) of, and paragraph 38 of Schedule 16 to, the Financial Services Act 1986 (c. 60)

(4)

Paragraph 51(2) was amended by Article 6(2) of, and paragraph 9 of Schedule 1 to, the Companies (Northern Ireland) Order 1990

(5)

Paragraph 53 was amended by Article 113 of, and Schedule 6 to the Companies (No. 2) (Northern Ireland) Order 1990

(6)

Schedule 4A was inserted by Article 7(2) of, and Schedule 2 to, the Companies (Northern Ireland) Order 1990

(7)

Schedule 5 was substituted by Article 8(2) of, and Schedule 3 to, the Companies (Northern Ireland) Order 1990

(8)

Schedule 6 was amended by Article 8(4) of, and Schedule 4 to, the Companies (Northern Ireland) Order 1990

(9)

Schedule 7 was amended by Article 10(2) of, and Schedule 5 to, the Companies (Northern Ireland) Order 1990

(10)

Articles 234 and 235 were substituted by Articles 6 and 7 of the Companies (Northern Ireland) Order 1990