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4.—(1) This regulation applies to a company—
(a)which qualifies as medium-sized in relation to a financial year under section 465 of the 2006 Act(1), and
(b)the directors of which are preparing Companies Act individual accounts under section 396 of that Act for that year.
(2) The individual accounts for the year need not comply with the following provisions of Schedule 1 to these Regulations—
(a)paragraph 45 (disclosure with respect to compliance with accounting standards), and
(b)paragraph 72 (related party transactions).
(3) The directors of the company may deliver to the registrar of companies a copy of the accounts for the year—
(a)which includes a profit and loss account in which the following items listed in the profit and loss account formats set out in Schedule 1 are combined as one item—
items 2, 3 and 6 in format 1;
items 2 to 5 in format 2;
items A.1 and B.2 in format 3;
items A.1, A.2 and B.2 to B.4 in format 4;
(b)which does not contain the information required by paragraph 68 of Schedule 1 (particulars of turnover).
Section 465 is amended by regulation 4(1) of S.I. 2008/393.
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