- Latest available (Revised)
- Original (As made)
There are currently no known outstanding effects for the The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019, CHAPTER 1.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
1. The Companies Act 2006 M1 is amended in accordance with this Chapter.
Commencement Information
I1Sch. 1 para. 1 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
2. In section 383(6), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I2Sch. 1 para. 2 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
3. In section 386(2)(c) and (5), omit “(and, where applicable, of Article 4 of the IAS Regulation)”.
Commencement Information
I3Sch. 1 para. 3 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
4. In section 388(3)(b), omit “(and, where applicable, of Article 4 of the IAS Regulation)”.
Commencement Information
I4Sch. 1 para. 4 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
5. In section 394A(2)(c)(ii) M2, for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I5Sch. 1 para. 5 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M2Section 394A was inserted by S.I. 2012/2301.
6. In section 395(1)(b) and (3) M3, for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I6Sch. 1 para. 6 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M3Section 395(3) was amended by S.I. 2012/2301.
7. In section 397(2) M4, for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I7Sch. 1 para. 7 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M4Section 397 was substituted by S.I. 2015/980.
8. In section 400(2)(b)(ii), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I8Sch. 1 para. 8 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
9. In section 401(2)(b)(iii) M5, for “international accounting standards adopted pursuant to the IAS Regulation” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I9Sch. 1 para. 9 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M5Section 401(2)(b) was substituted by S.I. 2015/980.
10. In section 403 M6—
(a)for subsection (1) substitute—
“(1) The group accounts of a parent company whose securities are, on its balance sheet date, admitted to trading on a UK regulated market must be prepared in accordance with UK-adopted international accounting standards (“IAS group accounts”).”;
(b)in subsections (2)(b) and (4), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I10Sch. 1 para. 10 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M6Section 403(4) was amended by S.I. 2012/2301.
11. In section 406(2) M7, for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I11Sch. 1 para. 11 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M7Section 406 was substituted by S.I. 2015/980.
12. In section 414(4), omit “(and, where applicable, of Article 4 of the IAS Regulation)”.
Commencement Information
I12Sch. 1 para. 12 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
13. In section 448A(2)(c)(ii) M8, for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I13Sch. 1 para. 13 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M8Section 448A was inserted by S.I. 2012/2301. There are no relevant amendments.
14. In section 454(1) M9 and (2)(a), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.
Commencement Information
I14Sch. 1 para. 14 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M9Section 454(1) was amended by S.I. 2013/1970.
15. In section 455(1) M10 and (4)(b), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.
Commencement Information
I15Sch. 1 para. 15 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M10Section 455(1) was amended by S.I. 2013/1970.
16. In section 456(1) M11, (5) and (6), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.
Commencement Information
I16Sch. 1 para. 16 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M11Section 456(1) was amended by S.I. 2013/1970.
17. In section 457(1)(a) M12, omit “(or, where applicable, of Article 4 of the IAS Regulation)”.
Commencement Information
I17Sch. 1 para. 17 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M12Section 457(1)(a) was amended by S.I. 2013/1970.
18. In section 459(1) M13, omit “(or, where applicable, of Article 4 of the IAS Regulation)”.
Commencement Information
I18Sch. 1 para. 18 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M13Section 459(1) was amended by S.I. 2013/1970.
19. In section 466(6), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I19Sch. 1 para. 19 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
20. In section 472(2), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I20Sch. 1 para. 20 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
21. In section 474(1) M14—
(a)omit the definition of “IAS Regulation”;
(b)in the definition of “international accounting standards”, for “the IAS Regulation, adopted from time to time by the European Commission in accordance with that Regulation” substitute “ Article 2 of Regulation (EC) No. 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards ”;
(c)in the definition of “profit and loss account”, for “international accounting standards” substitute “ UK-adopted international accounting standards ”;
(d)after the definition of “UCITS management company” insert—
““UK-adopted international accounting standards” means the international accounting standards which are adopted for use within the United Kingdom by virtue of Chapter 2 or 3 of Part 2 of the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019.”.
Commencement Information
I21Sch. 1 para. 21 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M14There are amendments to section 474(1) but none is relevant.
22. In section 479A(2)(c)(ii) M15, for “international accounting standards” substitute “ UK-adopted international accounting standards (within the meaning given by section 474(1)) ”.
Commencement Information
I22Sch. 1 para. 22 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M15Section 479A was inserted by S.I. 2012/2301. There are no relevant amendments.
23. In section 495(3)(c), omit “(and, where applicable, Article 4 of the IAS Regulation)”.
Commencement Information
I23Sch. 1 para. 23 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
24. In section 910(3), omit “(and where relevant Article 4 of the IAS Regulation)”.
Commencement Information
I24Sch. 1 para. 24 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
25. In section 925(3), omit “(and where relevant Article 4 of the IAS Regulation)”.
Commencement Information
I25Sch. 1 para. 25 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
26. In Schedule 8, in the index of defined expressions—
(a)omit the entry for “IAS Regulation (in Part 15)”;
(b)after the entry for “UCITS management company”, insert—
“UK-adopted international accounting standards (in Part 15) | section 474(1)”. |
Commencement Information
I26Sch. 1 para. 26 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: