PART 5Amendment of The Partnership (Accounts) Regulations 2008

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1

The Partnership (Accounts) Regulations 2008 M1 are amended as follows.

2

In paragraph (1) of regulation 2 (interpretation)—

a

before the definition of “the accounts”, insert—

“the Accounting Directive” means Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial reports of certain types of undertakings,

b

omit the definition of “the Fourth Directive”, and

c

omit the definition of “the Seventh Directive”.

3

In paragraph (2)(b) of regulation 5 (delivery of accounts of qualifying partnerships to registrar etc), for the words “the Fourth or Seventh Directive”, substitute “ the Accounting Directive ”.

4

In paragraph (2)(a) of regulation 7 (exemptions from regulations 4 to 6 where accounts consolidated), for the words “the Seventh Directive”, substitute “ the Accounting Directive ”.

5

In paragraph 2 of Part 1 (modifications and adaptations for purposes of regulation 4) of the Schedule—

a

for sub-paragraph (1)(c), substitute—

c

in Part 3 of Schedule 1, paragraph 49,

b

omit sub-paragraph (d), and

c

omit sub-paragraph (e).