Amendments to the 2006 ActI12

1

The 2006 Act is amended as follows.

2

In section 38410 (companies excluded from the small companies regime)—

a

in subsection (2), after paragraph (c) insert—

ca

an e-money issuer,

b

in subsection (2)(d) omit “an e-money issuer,”.

3

Section 448 (unlimited companies exempt from obligation to file accounts and reports) is amended as follows.

4

In paragraph (b) of subsection (3)11—

a

omit the “or” preceding sub-paragraph (iii),

b

in that sub-paragraph after “partnership” insert “which is not a limited partnership,”, and

c

after that sub-paragraph insert—

, or

iv

a Scottish partnership which is a limited partnership, each of whose general partners is a limited company.

5

In the words after that paragraph, for “or a Scottish partnership” substitute “, a Scottish partnership which is not a limited partnership or a Scottish partnership which is a limited partnership”.

6

For subsection (5) substitute—

5

In this section—

  • “general partner” means—

    1. a

      in relation to a Scottish partnership which is a limited partnership, a person who is a general partner within the meaning of the Limited Partnerships Act 190712; and

    2. b

      in relation to an undertaking incorporated in or formed under the law of any country or territory outside the United Kingdom and which is comparable to a Scottish partnership which is a limited partnership, a person comparable to such a general partner;

  • “limited partnership” means a partnership registered under the Limited Partnerships Act 1907; and

    the “relevant accounting reference period”, in relation to a financial year, means the accounting reference period by reference to which that financial year was determined.

7

In section 467 (companies excluded from being treated as medium-sized)—

a

in subsection (1), after paragraph (b) (but before the “or” following it) insert—

ba

an e-money issuer,

b

in subsection (2), after paragraph (c) insert—

ca

an e-money issuer,

c

in subsection (2)(d) omit “an e-money issuer,”.

8

In section 474 (minor definitions for the purposes of Part 15), in the definition of “e-money issuer”, for “means” substitute—

  • means—

    1. a

      an electronic money institution, within the meaning of the Electronic Money Regulations 2011 (S.I. 2011/99), or

    2. b

9

In section 539 (minor definitions for the purposes of Part 16), in the definition of “e-money issuer”, for “means” substitute—

  • means—

    1. a

      an electronic money institution, within the meaning of the Electronic Money Regulations 2011 (S.I. 2011/99), or

    2. b