The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 No. 685

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 1 U.K. Amendments to the Companies Act 2006

Amendments to the Companies Act 2006 U.K.

1.  The Companies Act 2006 M1 is amended in accordance with this Chapter.

Commencement Information

I1 Sch. 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

M1 2006 c.46.

Companies qualifying as small: parent companies U.K.

2.  In section 383(6), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I2 Sch. 1 para. 2 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Duty to keep accounting records U.K.

3.  In section 386(2)(c) and (5), omit “(and, where applicable, of Article 4 of the IAS Regulation)”.

Commencement Information

I3 Sch. 1 para. 3 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Where and for how long records to be kept U.K.

4.  In section 388(3)(b), omit “(and, where applicable, of Article 4 of the IAS Regulation)”.

Commencement Information

I4 Sch. 1 para. 4 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Individual accounts: exemption for dormant subsidiaries U.K.

5.  In section 394A(2)(c)(ii) M2 , for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I5 Sch. 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

M2 Section 394A was inserted by S.I. 2012/2301.

Individual accounts: applicable accounting framework U.K.

6.  In section 395(1)(b) and (3) M3 , for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I6 Sch. 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

M3 Section 395(3) was amended by S.I. 2012/2301.

IAS individual accounts U.K.

7.  In section 397(2) M4 , for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I7 Sch. 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

M4 Section 397 was substituted by S.I. 2015/980.

Exemption for company included in EEA group accounts of larger group U.K.

8.  In section 400(2)(b)(ii), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I8 Sch. 1 para. 8 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Exemption for company included in non-EEA group accounts of larger group U.K.

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

I9 Sch. 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

M5 Section 401(2)(b) was substituted by S.I. 2015/980.

Group accounts: applicable accounting framework U.K.

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

I10 Sch. 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

M6 Section 403(4) was amended by S.I. 2012/2301.

IAS group accounts U.K.

11.  In section 406(2) M7 , for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I11 Sch. 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

M7 Section 406 was substituted by S.I. 2015/980.

Approval and signing of accounts U.K.

12.  In section 414(4), omit “(and, where applicable, of Article 4 of the IAS Regulation)”.

Commencement Information

I12 Sch. 1 para. 12 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Dormant subsidiaries exempt from obligation to file accounts U.K.

13.  In section 448A(2)(c)(ii) M8 , for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I13 Sch. 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

M8 Section 448A was inserted by S.I. 2012/2301. There are no relevant amendments.

Voluntary revision of accounts etc. U.K.

14.  In section 454(1) M9 and (2)(a), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.

Commencement Information

I14 Sch. 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

M9 Section 454(1) was amended by S.I. 2013/1970.

Secretary of State's notice in respect of accounts or reports U.K.

15.  In section 455(1) M10 and (4)(b), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.

Commencement Information

I15 Sch. 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

M10 Section 455(1) was amended by S.I. 2013/1970.

Application to court in respect of defective accounts or reports U.K.

16.  In section 456(1) M11 , (5) and (6), omit “(or, where applicable, of Article 4 of the IAS Regulation)”.

Commencement Information

I16 Sch. 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

M11 Section 456(1) was amended by S.I. 2013/1970.

Other persons authorised to apply to the court U.K.

17.  In section 457(1)(a) M12 , omit “(or, where applicable, of Article 4 of the IAS Regulation)”.

Commencement Information

I17 Sch. 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

M12 Section 457(1)(a) was amended by S.I. 2013/1970.

Power of authorised person to require documents, information and explanations U.K.

18.  In section 459(1) M13 , omit “(or, where applicable, of Article 4 of the IAS Regulation)”.

Commencement Information

I18 Sch. 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

M13 Section 459(1) was amended by S.I. 2013/1970.

Companies qualifying as medium-sized: parent companies U.K.

19.  In section 466(6), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I19 Sch. 1 para. 19 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Notes to the accounts U.K.

20.  In section 472(2), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I20 Sch. 1 para. 20 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Minor definitions U.K.

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

I21 Sch. 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

M14 There are amendments to section 474(1) but none is relevant.

Subsidiary companies: conditions for exemption from audit U.K.

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

I22 Sch. 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

M15 Section 479A was inserted by S.I. 2012/2301. There are no relevant amendments.

Auditor's report on company's annual accounts U.K.

23.  In section 495(3)(c), omit “(and, where applicable, Article 4 of the IAS Regulation)”.

Commencement Information

I23 Sch. 1 para. 23 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Supplementary accounting statement (merger) U.K.

24.  In section 910(3), omit “(and where relevant Article 4 of the IAS Regulation)”.

Commencement Information

I24 Sch. 1 para. 24 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Supplementary accounting statement (division) U.K.

25.  In section 925(3), omit “(and where relevant Article 4 of the IAS Regulation)”.

Commencement Information

I25 Sch. 1 para. 25 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Index of defined expressions U.K.

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

I26 Sch. 1 para. 26 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

CHAPTER 2 U.K. Amendments to other primary legislation

Amendments to the Building Societies Act 1986 U.K.

27.  The Building Societies Act 1986 M16 is amended in accordance with paragraphs 28 to 37.

Commencement Information

I27 Sch. 1 para. 27 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M16 1986 c.53.

28.  In section 61 (directors: supplementary provisions as to elections, etc), in subsection (3A) M17 , for “international accounting standards” substitute “ UK-adopted international accounting standards ”. U.K.

Commencement Information

I28 Sch. 1 para. 28 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M17 Subsection (3A), along with subsection (4), was substituted for section (4) as originally enacted by section 28 of the Building Societies Act 1997 (c. 32). Subsection (3A) was also amended by S.I. 2004/3380.

29.  In section 71 (accounting records), in subsections (2)(c) and (d) M18 , for “Article 4 of the IAS Regulation” substitute “ section 403(1) of the Companies Act 2006 (group accounts: applicable accounting framework) ”. U.K.

Commencement Information

I29 Sch. 1 para. 29 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M18 Section 71(2)(c) and (d) were amended by S.I. 2004/3380.

30.  In section 72A (duty to prepare individual accounts) M19 — U.K.

(a) in subsection (2), for “international accounting standards”, substitute “ UK-adopted international accounting standards ”;

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

Commencement Information

I30 Sch. 1 para. 30 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M19 Section 72A, with sections 72B to 72I, was substituted for sections 72 and 73 as originally enacted by S.I. 2004/3380.

31.  In section 72D (IAS individual accounts) M20 , for “international accounting standards”, substitute “ UK-adopted international accounting standards ”. U.K.

Commencement Information

I31 Sch. 1 para. 31 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M20 Section 72D was substituted by S.I. 2004/3380.

32.  In section 72E (duty to prepare group accounts) M21 — 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), for “international accounting standards”, substitute “ UK-adopted international accounting standards ”;

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

Commencement Information

I32 Sch. 1 para. 32 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M21 Section 72E was substituted by S.I. 2004/3380.

33.  In section 72H (IAS group accounts) M22 , for “international accounting standards”, substitute “ UK-adopted international accounting standards ”. U.K.

Commencement Information

I33 Sch. 1 para. 33 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M22 Section 72H was substituted by S.I. 2004/3380.

34.  In section 78 (auditor's report) M23 , in subsection (4)(c), for “Article 4 of the IAS Regulation”, substitute “ section 403(1) of the Companies Act 2006 ”. U.K.

Commencement Information

I34 Sch. 1 para. 34 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M23 The heading to section 78 was substituted by S.I. 2008/1519, and subsection (4) was substituted by S.I. 2017/516; there are other amendments but none is relevant.

35.  In section 81B (interpretation of Part 8) M24 — U.K.

(a) in subsection (1)—

(i) omit the definition of “IAS Regulation”;

(ii) in the definition of “income and expenditure account”, for “international accounting standards” substitute “ UK-adopted international accounting standards ”;

(iii) omit the definition of “international accounting standards”;

(iv) after the definition of “income and expenditure account”, insert—

““UK-adopted international accounting standards” has the meaning given by section 474(1) of the Companies Act 2006;”;

(b) in subsection (2), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I35 Sch. 1 para. 35 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M24 Section 81B was inserted by S.I. 2004/3380; there are other amending instruments but none is relevant.

36.  In Schedule 2 (establishment, incorporation and constitution of building societies), in paragraph 31(2)(a) (members' right to propose and circulate resolutions: the requisite number of members) M25 , for “international accounting standards” substitute “ UK-adopted international accounting standards ”. U.K.

Commencement Information

I36 Sch. 1 para. 36 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M25 Paragraph 31(2)(a)(i) was substituted by S.I. 1997/2840, and amended by S.I. 1999/3033 and 2004/3380.

37.  In Schedule 10B (disclosures about related undertakings required in note to accounts) M26 , in— U.K.

(a) paragraph 3(3)(b) (financial information about subsidiary undertakings),

(b) paragraphs 6(4)(b) and 7(4)(b) (significant holdings in undertakings other than subsidiary undertakings: information requirements),

(c) paragraph 11(3)(b) (financial information about subsidiary undertakings not included in the consolidation) and

(d) paragraphs 14(4)(b), 15(3)(b), 17(4)(b) and 18(3)(b) (other significant holdings of society or group: information requirements),

for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I37 Sch. 1 para. 37 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M26 Schedule 10B was inserted by S.I. 2004/3380; there are amending instruments but none is relevant.

Amendments to the Friendly Societies Act 1992 U.K.

38.  The Friendly Societies Act 1992 M27 is amended in accordance with paragraphs 39 to 46.

Commencement Information

I38 Sch. 1 para. 38 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M27 1992 c. 40.

39.  In section 68 (accounting records), in subsection (2)(b) M28 and (c) M29 , for “Article 4 of the IAS Regulation” substitute “ section 403(1) of the Companies Act 2006 (group accounts: applicable accounting framework) ”. U.K.

Commencement Information

I39 Sch. 1 para. 39 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M28 Section 68(2)(b) was amended by S.I. 2005/2211.

M29 Section 68(2)(c) was amended by S.I. 2005/2211.

40.  In section 69A (duty to prepare individual accounts) M30 — U.K.

(a) in subsection (2)(b), for “international accounting standards” substitute “ UK-adopted international accounting standards ”;

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

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

Commencement Information

I40 Sch. 1 para. 40 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M30 Section 69A was substituted, together with sections 69B to 69I, by S.I. 2005/2211; there are amending instruments but none is relevant.

41.  In section 69D (IAS individual accounts) M31 , for “international accounting standards” substitute “ UK-adopted international accounting standards ”. U.K.

Commencement Information

I41 Sch. 1 para. 41 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M31 Section 69D was substituted by S.I. 2005/2211.

42.  In section 69E (duty to prepare group accounts) M32 — 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

I42 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

M32 Section 69E was substituted by S.I. 2005/2211; there are amending instruments but none is relevant.

43.  In section 69H (IAS group accounts) M33 , for “international accounting standards” substitute “ UK-adopted international accounting standards ”. U.K.

Commencement Information

I43 Sch. 1 para. 43 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M33 Section 69H was substituted by S.I. 2005/2211.

44.  In section 73 (auditor's report) M34 , in subsection (5B)(c), for “Article 4 of the IAS Regulation” substitute “ section 403(1) of the Companies Act 2006 (group accounts: applicable accounting framework) ”. U.K.

Commencement Information

I44 Sch. 1 para. 44 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M34 The section heading of section 73 was substituted by S.I. 2008/1140; subsection (5B) was substituted along with subsections (5A) to (5D) for subsection (5) as originally enacted by S.I. 2005/2211; subsection (5B) was then substituted along with subsections (5A) to (5C) by S.I. 2017/516. There are other amending instruments but none is relevant.

45.  In section 78A (interpretation of Part 6) M35 — U.K.

(a) in subsection (1)—

(i) omit the definition of “IAS Regulation”;

(ii) in the definition of “income and expenditure account”, for “international accounting standards” substitute “ UK-adopted international accounting standards ”;

(iii) omit the definition of “international accounting standards”;

(iv) after the definition of “senior statutory auditor” insert—

““UK-adopted international accounting standards” has the meaning given by section 474(1) of the Companies Act 2006;”;

(b) in subsection (2)(c), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I45 Sch. 1 para. 45 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M35 Section 78A was inserted by S.I. 2005/2211 and amended by S.I. 2008/1140; there are other amending instruments but none is relevant.

46.  In Schedule 13E (disclosures about related undertakings) M36 — U.K.

(a) in paragraph 3(3)(b) (financial information about subsidiary undertakings),

(b) in paragraph 7(4)(b) (significant holdings in bodies corporate other than subsidiary undertakings: information requirements) and

(c) in paragraphs 14(4)(b), 15(3)(b) and 18(3)(b) (other significant holdings of society or group: information requirements),

for “international accounting standards” substitute “ UK-adopted international accounting standards ”.

Commencement Information

I46 Sch. 1 para. 46 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M36 Schedule 13E was inserted by S.I. 2005/2211; there are amending instruments but none is relevant.

Amendments to the Government Resources and Accounts Act 2000 U.K.

47.  The Government Resources and Accounts Act 2000 M37 is amended in accordance with paragraphs 48 and 49.

Commencement Information

I47 Sch. 1 para. 47 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M37 2000 c. 20.

48.  In section 5(4)(a) (departmental resource accounts: preparation: relevant guidance) M38 , for “the international accounting standards, within the meaning of EC Regulation No. 1606/2002 of the European Parliament and of the Council of 19th July 2002 on the application of international accounting standards, adopted from time to time by the European Commission in accordance with that Regulation” substitute “ UK-adopted international accounting standards, within the meaning given by section 474(1) of the Companies Act 2006 ”. U.K.

Commencement Information

I48 Sch. 1 para. 48 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M38 Section 5(4)(a) was amended by S.I. 2004/2497 and 2008/948.

49.  In section 9(5)(a) (whole of government accounts: preparation: relevant guidance) M39 , for “the international accounting standards, within the meaning of EC Regulation No. 1606/2002 of the European Parliament and of the Council of 19th July 2002 on the application of international accounting standards, adopted from time to time by the European Commission in accordance with that Regulation” substitute “ UK-adopted international accounting standards, within the meaning given by section 474(1) of the Companies Act 2006 ”. U.K.

Commencement Information

I49 Sch. 1 para. 49 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M39 Section 9(5)(a) was amended by S.I. 2004/2497 and 2008/948.

Amendments to the Government Resources and Accounts Act (Northern Ireland) 2001 U.K.

50.  The Government Resources and Accounts Act (Northern Ireland) 2001 M40 is amended in accordance with paragraphs 51 and 52.

Commencement Information

I50 Sch. 1 para. 50 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M40 2001 c. 6 (N.I.).

51.  In section 9(4)(a) (departmental resource accounts: preparation: relevant guidance) M41 , for “the international accounting standards, within the meaning of EC Regulation No. 1606/2002 of the European Parliament and of the Council of 19th July 2002 on the application of international accounting standards, adopted from time to time by the European Commission in accordance with that Regulation” substitute “ UK-adopted international accounting standards, within the meaning given by section 474(1) of the Companies Act 2006 ”. U.K.

Commencement Information

I51 Sch. 1 para. 51 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M41 Section 9(4)(a) was amended by S.R. 2004 No. 496.

52.  In section 14(5)(a) (whole of government accounts: preparation: relevant guidance) M42 , for “the international accounting standards, within the meaning of EC Regulation No. 1606/2002 of the European Parliament and of the Council of 19th July 2002 on the application of international accounting standards, adopted from time to time by the European Commission in accordance with that Regulation” substitute “ UK-adopted international accounting standards, within the meaning given by section 474(1) of the Companies Act 2006 ”. U.K.

Commencement Information

I52 Sch. 1 para. 52 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M42 Section 14(5)(a) was amended by S.R. 2004 No. 496.