SCHEDULE 1 U.K.Consequential amendments and transitional provision relating to the adoption of international accounting standards in the United Kingdom

PART 1 U.K.Amendments to Primary Legislation

CHAPTER 2 U.K.Amendments to other primary legislation

42.  In section 69E (duty to prepare group accounts) M1 — U.K.

(a) in subsection (2)—

(i) for “Article 4 of the IAS Regulation” substitute “ section 403(1) of the Companies Act 2006 ”;

(ii) for “international accounting standards” substitute “ UK-adopted international accounting standards ”;

(b) in subsection (3)(b), for “international accounting standards” substitute “ UK-adopted international accounting standards ”;

(c) in subsection (4), for “international accounting standards” substitute “ UK-adopted international accounting standards ”;

(d) in subsection (5)(a), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I1 Sch. 1 para. 42 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M1 Section 69E was substituted by S.I. 2005/2211; there are amending instruments but none is relevant.