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The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Directors' Reports) (Authorised Person) Order 2012
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Statutory Instruments
2012 No. 1439
Companies
The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Directors' Reports) (Authorised Person) Order 2012
Made
31st May 2012
Laid before Parliament
11th June 2012
Coming into force
2nd July 2012
It appears to the Secretary of State that the Conduct Committee of the Financial Reporting Council Limited M1—
(a)
is a body having an interest in, and having satisfactory procedures directed to, monitoring compliance by issuers of transferable securities with accounting requirements imposed by Part 6 rules M2 in relation to periodic accounts and reports produced by such issuers;
(b)
is otherwise a fit and proper body to be appointed to exercise the functions mentioned at section 14(2) of the Companies (Audit, Investigations and Community Enterprise) Act 2004 M3;
(c)
will exercise its functions as a prescribed body in accordance with the requirements of this Order;
(d)
is a person having an interest in, and having satisfactory procedures directed to, securing compliance by companies with the requirements of the Companies Act 2006 M4 (or, where applicable, Article 4 of the IAS Regulation M5) relating to accounts and directors' reports;
(e)
is a person having satisfactory procedures for receiving and investigating complaints about companies' annual accounts and directors' reports;
(f)
is otherwise a fit and proper person to be authorised for the purposes of section 456 of the Companies Act 2006; and
(g)
will exercise its functions as an authorised person in accordance with the requirements of this Order.
The Secretary of State makes the following Order in exercise of the powers conferred by sections 14(1), (5) and (8) and 15E of the Companies (Audit, Investigations and Community Enterprise) Act 2004 M6 and by sections 457(1), (2), (5) and (6), 462 and 1292(1)(b) and (c) of the Companies Act 2006.
Marginal Citations
M1A company registered in England and Wales with number 02486368.
M2Defined in section 103(1) of the Financial Services and Markets Act 2000 (c.8); section 103 was substituted by S.I. 2005/1433.
M32004 c.27. Section 14(2) was amended by section 1272 of, and paragraphs 13 and 14 of Schedule 15 to the Companies Act 2006 (c.46).
M5Regulation (EC) No. 1606/2002 of the European Parliament and the Council of 19.7.2002 on the application of international accounting standards (OJ L 243, 11.9.2002, p.1).
M6Section 14(3) was amended by section 1272 of, and paragraphs 13 and 14 of Schedule 15 to, the Companies Act 2006. Section 15E was inserted by article 3(1) and paragraph 232(2) of Schedule 1 to S.I. 2008/948.
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