19.—(1) Where the provisions of the 2006 Act as to the matters to be included in the annual accounts of a company or (as the case may be) in [F1a strategic report or a] directors' report or directors' remuneration report have been amended after the date of the original annual accounts or (as the case may be) [F2strategic report,] directors' report or directors' remuneration report but prior to the date of revision, references in regulations 3 and 7(3) to the provisions of that Act are to be construed as references to the provisions of that Act as in force at the date of the original annual accounts or (as the case may be) [F2strategic report,] directors' report or directors' remuneration report.
F3(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F4(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in reg. 19(1) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Companies (Revision of Defective Accounts and Reports) (Amendment) (No.2) Regulations 2013 (S.I. 2013/2224), regs. 1(2), 13(a)
F2Words in reg. 19(1) inserted (1.1.2018) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), 13(a) (with reg. 2(6)(7))
F3Reg. 19(2) omitted (1.1.2018) by virtue of The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), 13(b) (with reg. 2(6)(7))
F4Reg. 19(3) omitted (with effect in accordance with reg. 1(2) of the amending S.I.) by virtue of The Companies (Revision of Defective Accounts and Reports) (Amendment) (No.2) Regulations 2013 (S.I. 2013/2224), regs. 1(2), 13(b) (with reg. 14)
20.—(1) The Companies (Revision of Defective Accounts and Report) Regulations 1990 M1 and the Companies (Revision of Defective Accounts and Report) Regulations (Northern Ireland) 1991 M2 are revoked.
(2) Notwithstanding the revocation of the regulations specified in paragraph (1), the provisions of those regulations continue to apply in relation to financial years of a company beginning before 6th April 2008.
Marginal Citations
M1S.I. 1990/2570 as amended by S.I.s 1994/1935, 1995/2092, 1996/315, 2005/2282 and 2005/3442.
M2S.R. 1991/268, as amended by regulation 10 of S.R. 1993/267, regulation 5 of, and Schedule 2 to, S.R. 1995/128, regulation 12 of S.R. 1996/179, S.R. 1997/423 and S.R. 2006/139.
21.—(1) The Secretary of State must from time to time—
(a)carry out a review of the regulatory provision in these Regulations to which amendments have been made by Part 3 of the Statutory Auditor Regulations 2017, and
(b)publish a report setting out the conclusions of the review.
(2) The first report must be published before 1st January 2023.
(3) Subsequent reports must be published at intervals not exceeding 5 years.
(4) Section 30(3) of the Small Business, Enterprise and Employment Act 2015 requires that a review carried out under this regulation must, so far as is reasonable, have regard to how Article 28 of Directive 2006/43/EC of the European Parliament and of the Council on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC is implemented in other member States.
(5) Section 30(4) of the Small Business, Enterprise and Employment Act 2015 requires that a report published under this regulation must, in particular—
(a)set out the objectives intended to be achieved by the regulatory provision referred to in paragraph (1)(a),
(b)assess the extent to which those objectives are achieved,
(c)assess whether those objectives remain appropriate, and
(d)if those objectives remain appropriate, assess the extent to which they could be achieved in another way which involves less onerous regulatory provision.
(6) In this regulation, “regulatory provision” has the same meaning as in sections 28 to 32 of the Small Business, Enterprise and Employment Act 2015 (see section 32 of that Act).]
Textual Amendments
F5Reg. 21 inserted (1.1.2018) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), regs. 1(2)(3), 14 (with reg. 2(6)(7))