Made | 14th December 2005 | ||
Laid before Parliament | 15th December 2005 | ||
Coming into force | 12th January 2006 |
Alun Michael
Minister of State for Industry and the Regions Department of Trade and Industry
14th December 2005
6.
In section 239(1) (right to demand copies of accounts and reports)[8], omit—
7.
In section 241(1) (accounts and reports to be laid before company in general meeting)[9], omit—
8.
In section 242(1) (accounts and reports to be delivered to the registrar)[10], omit—
9.
—(1) Section 245 (voluntary revision of defective accounts, reports and reviews)[11] is amended as follows.
(2) In subsection (1)—
(3) In subsection (2), for ", report or review" (in both places) substitute "or report".
(4) In subsection (3), omit the words ", a revised operating and financial review".
(5) In subsection (4)(a) and (b), for ", statement, report or review" substitute "statement or report".
(6) In subsection (4)(c)—
10.
—(1) Section 245A (Secretary of State's notice in respect of annual accounts, reports and reviews)[12] is amended as follows.
(2) In subsection (1)—
(3) In subsection (2)—
(4) In subsection (3), for ", report or review" (in both places) substitute "or report".
(5) In subsection (4)—
11.
—(1) Section 245B (application to court in respect of defective accounts, reports and reviews)[13] is amended as follows.
(2) In subsection (1), omit—
(3) In subsection (3A)—
(4) In subsection (4)—
(5) In subsection (5), for ", report or review" (in both places) substitute "or report".
(6) In subsection (7)—
12.
—(1) Section 245C (other persons authorised to apply to court)[14] is amended as follows.
(2) In subsection (1), in paragraphs (a) and (b), for ", directors' reports and operating and financial reviews" substitute "and directors' reports".
13.
In section 245F(1) (power of authorised persons to require documents, information and explanations)[15], for ", directors' report or operating and financial review" substitute "or directors' report".
14.
—(1) Section 251 (summary financial statements)[16] is amended as follows.
(2) Omit subsection (2ZA).
(3) In subsection (2D)—
(4) In subsection (3) omit the words "or (in the case of a quoted company) operating and financial review".
(5) In subsection (3A) for ", directors' report or operating and financial review" substitute "or directors' report".
(6) In subsection (4)—
(b) omit paragraph (ac);
(c) in paragraph (b)(i) omit—
(d) for paragraph (ca) substitute—
15.
Omit section 256A (reporting standards for operating and financial reviews)[17].
16.
In section 262A (index of defined expressions)[18], omit the entries relating to "group operating and financial review", "operating and financial review" and "reporting standards and relevant reporting standards".
17.
Omit Schedule 7ZA (contents of operating and financial review)[19].
18.
In Schedule 24 (punishment of offences)[20], omit the entries relating to sections 234AA(5) and 234AB(4).
(c) in the definition of "original"—
(d) in the definitions of "revision by replacement" and "revision by supplementary note", for ", directors' remuneration report or operating and financial review" (in each place) substitute "or directors' remuneration report".
(3) In regulation 3 (content of revised accounts, revised report or revised review)[23]—
(4) Omit regulation 5B (approval and signature of revised operating and financial review)[24].
(5) In regulation 6 (auditors' report on revised accounts and revised report or review)[25]—
(6) In regulation 7 (auditors' report on revised report or review alone)[26]—
(7) In regulation 9 (effect of revision)[27]—
(b) in paragraph (2)—
(8) In regulation 10 (publication of revised accounts, reports and reviews)[28]—
(c) in paragraphs (2) and (3) omit "or review" (in each place);
(d) in paragraph (4)—
(9) In regulation 11 (laying of revised accounts or a revised report)[29]—
(c) in paragraphs (2) and (3), omit "or review" (in each place).
(10) In regulation 12 (delivery of revised accounts or a revised report or review)[30]—
(c) in paragraph (2), omit "or review" (in each place).
(11) In regulation 14 (summary financial statements)[31]—
(c) in paragraph (5), omit "or review";
(d) in paragraph (6), for ", the revised directors' remuneration report under Regulation 5A above or the revised operating and financial review under Regulation 5B above" substitute "or the revised directors' remuneration report under Regulation 5A above".
(12) In regulation 16 (modifications of the Act)[32]—
The Companies (Summary Financial Statement) Regulations 1995
2.
—(1) The Companies (Summary Financial Statement) Regulations 1995[33] are amended as follows.
(2) In regulation 2 (interpretation)[34], in the definition of "full accounts and reports"—
(3) In regulation 5(1) (consultation by notice)[35]—
(4) In paragraph 1(2) of Schedule 1 (form and content of summary financial statement of non-banking or insurance companies and groups)[36], omit ", the operating and financial review (if any)".
(5) In paragraph 1(2) of Schedule 2 (form and content of summary financial statement of banking companies and groups)[37], omit ", the operating and financial review (if any)".
(6) In paragraph 2(2) of Schedule 3 (form and content of summary financial statement of insurance companies and groups)[38], omit ", the operating and financial review (if any)".
The Limited Liability Partnerships Regulations 2001
3.
—(1) Schedule 1 to the Limited Liability Partnerships Regulations 2001 (modifications to provisions of Part 7 of the 1985 Act as applied to limited liability partnerships)[39] is amended as follows.
(2) Omit the entries relating to sections 234AA (duty to prepare operating and financial review), 234AB (approval and signing of operating and financial review) and 256A (reporting standards for operating and financial review) of the 1985 Act[40].
(3) In the entries relating to section 239(1) (right to demand copies of accounts and reports) and 242(1) (accounts and reports to be delivered to registrar) of the 1985 Act[41], omit the reference to paragraph (ba) (in both places).
(4) In the entry relating to section 245 of the 1985 Act (voluntary revision of accounts)[42]—
(b) for paragraphs (a), (b) and (c)(i) of the entry relating to subsection (4) substitute—
(5) In the entry relating to section 245A of the 1985 Act (Secretary of State's notice in respect of annual accounts, reports and reviews)[43]—
(b) for the entry relating to subsection (2) substitute "Omit the words "or report" and the words "or a revised report".";
(c) for the entry relating to subsection (3) substitute "Omit the words "or report" in both places where they occur.";
(d) for the entry relating to subsection (4) substitute "Omit the words "and revised directors' reports" and the words "or reports" in both places where they occur.".
(6) In the entry relating to section 245B of the 1985 Act (application in respect of defective accounts and reports)[44]—
(7) For the entry relating to section 245C(1) of the 1985 Act (other persons authorised to apply to court)[45] substitute "Omit the words "and directors' reports" in both places where they occur.".
[2] Section 234AA was inserted by regulation 8 of S.I. 2005/1011.back
[3] Section 234 was substituted by regulation 2 of S.I. 2005/1011.back
[4] Section 234AA and the heading preceding it were inserted by regulation 8 of S.I. 2005/1011.back
[5] Section 234AB was inserted by regulation 8 of S.I. 2005/1011.back
[6] Section 235 was substituted by section 9 of the Companies Act 1989, and amended by regulation 4 of S.I. 2002/1986, by regulation 6 of S.I. 2004/2947 and by regulations 3 and 10 of S.I. 2005/1011.back
[7] Section 238 was substituted by section 10 of the Companies Act 1989, and amended by article 12 of S.I. 2000/3373, by regulation 10 of S.I. 2002/1986, and by regulation 19 of, and paragraph 2 of the Schedule to, S.I. 2005/1011.back
[8] Section 239 was substituted by section 10 of the Companies Act 1989, and amended by article 13 of S.I. 2000/3373, by regulation 10(6) of S.I. 2002/1986, and by regulation 19 of, and paragraph 3 of the Schedule to, S.I. 2005/1011.back
[9] Section 241 was substituted by section 11 of the Companies Act 1989, and amended by regulation 10(7) of S.I. 2002/1986, and by regulation 19 of, and paragraph 4 of the Schedule to, S.I. 2005/1011.back
[10] Section 242 was substituted by section 11 of the Companies Act 1989, and amended by regulation 10(8) of S.I. 2002/1986, and by regulation 19 of, and paragraph 5 of the Schedule to, S.I. 2005/1011.back
[11] Section 245 was substituted by section 12 of the Companies Act 1989, and amended by regulation 4 of, and paragraph 2 in Part 1 of Schedule 1 to, S.I. 1994/1935, by regulation 10(9) of S.I. 2002/1986, by regulations 3 and 10 of, and paragraph 11 of Schedule 1 to, S.I. 2004/2947, and by regulation 14 of S.I. 2005/1011.back
[12] Section 245A was inserted by section 12 of the Companies Act 1989, and amended by regulation 3 of, and paragraph 11 of Schedule 1 to, S.I. 2004/2947, and by regulation 15 of S.I. 2005/1011.back
[13] Section 245B was inserted by section 12 of the Companies Act 1989, and amended by regulation 10 of S.I. 2002/1986, by regulation 3 of, and paragraph 11 of Schedule 1 to, S.I. 2004/2947, and by regulation 16 of S.I. 2005/1011.back
[14] Section 245C was inserted by section 12 of the Companies Act 1989, and amended by sections 10 and 64 of, and Schedule 8 to, the Companies (Audit, Investigations and Community Enterprise) Act 2004, by regulation 3 of, and paragraph 11 of Schedule 1 to, S.I. 2004/2947, and by regulation 17 of S.I. 2005/1011.back
[15] Section 245F was inserted by section 12 of the Companies (Audit, Investigations and Community Enterprise) Act 2004, and amended by regulation 18 of S.I. 2005/1011.back
[16] Section 251 was substituted by section 15 of the Companies Act 1989, and amended by regulation 3 of S.I. 1992/3003, by article 14 of S.I. 2000/3373, by article 15 of S.I. 2001/3649, by regulation 8 of S.I. 2002/1986, by regulation 11 of S.I. 2004/2947, and by regulation 12 of S.I. 2005/1011.back
[17] Section 256A was inserted by regulation 11 of S.I. 2005/1011.back
[18] Section 262A was inserted by section 22 of the Companies Act 1989, and amended by regulation 6 of, and paragraph 3 of Schedule 2 to, S.I. 1991/2705, by regulation 5 of, and paragraph 5 of Schedule 2 to, S.I. 1993/3246, by regulation 4(2) of S.I. 1994/233, by regulation 4 of, and paragraph 3 of Schedule 1 to, S.I. 1994/1935, by regulation 12(2) of S.I. 1996/189, by regulation 7 of S.I. 1997/220, by regulation 4(4) of S.I. 1997/2306, by article 16(2) of S.I. 2000/3373, by regulation 10 of S.I. 2002/1986, by regulation 3 of, and paragraph 21 of Schedule 1 to, S.I. 2004/2947, and by regulation 19 of, and paragraph 7 of the Schedule to, S.I. 2005/1011.back
[19] Schedule 7ZA was inserted by regulation 9 of S.I. 2005/1011.back
[20] The entries for sections 234AA(5) and 234AB(4) were inserted by regulation 19 of, and paragraph 8 of the Schedule to, S.I. 2005/1011.back
[21] S.I. 1990/2570, as amended by regulation 10 of S.I. 1992/3075, by regulation 5 of, and Schedule 2 to, S.I. 1994/1935, by regulation 12 of S.I. 1995/2092, by S.I. 1996/315, and by S.I. 2005/2282.back
[22] Regulation 2 was amended by regulation 3 of S.I. 2005/2282.back
[23] Regulation 3 was amended by regulation 4 of S.I. 2005/2282.back
[24] Regulation 5B was inserted by regulation 6 of S.I. 2005/2282.back
[25] Regulation 6 was amended by regulation 7 of S.I. 2005/2282.back
[26] Regulation 7 was amended by regulation 8 of S.I. 2005/2282.back
[27] Regulation 9 was amended by regulation 9 of S.I. 2005/2282.back
[28] Regulation 10 was amended by regulation 10 of S.I. 2005/2282.back
[29] Regulation 11 was amended by regulation 11 of S.I. 2005/2282.back
[30] Regulation 12 was amended by regulation 12 of S.I. 2005/2282.back
[31] Regulation 14 was amended by regulation 15 of S.I. 2005/2282.back
[32] Regulation 16 was amended by regulation 17 of S.I. 2005/2282.back
[33] S.I. 1995/2092, as amended by S.I. 2000/3373, by S.I. 2002/1780, and by S.I. 2005/2281.back
[34] Regulation 2 was amended by regulation 2 of S.I. 2005/2281.back
[35] Regulation 5 was amended by regulation 5 of S.I. 2005/2281.back
[36] Paragraph 1(2) of Schedule 1 was amended by regulation 12(2) of S.I. 2005/2281.back
[37] Paragraph 1(2) of Schedule 2 was amended by regulation 13(2) of S.I. 2005/2281.back
[38] Paragraph 2(2) of Schedule 3 was amended by regulation 14(2) of S.I. 2005/2281.back
[39] S.I. 2001/1090, as amended by S.I. 2004/355 and S.I. 2005/1989.back
[40] The entry relating to sections 234AA and 234AB of the 1985 Act was inserted by regulation 2 of, and paragraph 4 of Schedule 1 to, S.I. 2005/1989, and that relating to section 256A by regulation 2 of, and paragraph 19 of Schedule 1 to, S.I. 2005/1989.back
[41] The entry relating to section 239(1) was substituted by regulation 2 of, and paragraph 7 of Schedule 1 to, S.I. 2005/1989, and that relating to section 242(1) by regulation 2 of, and paragraph 10 of Schedule 1 to, S.I. 2005/1989.back
[42] The entry relating to section 245 was substituted by regulation 2 of, and paragraph 13 of Schedule 1 to, S.I. 2005/1989.back
[43] The entry relating to section 245A was substituted by regulation 2 of, and paragraph 14 of Schedule 1 to, S.I. 2005/1989.back
[44] The entry relating to section 245B was substituted by regulation 2 of, and paragraph 15 of Schedule 1 to, S.I. 2005/1989.back
[45] The entry relating to section 245C(1) was inserted by regulation 2 of, and paragraph 16 of Schedule 1 to, S.I. 2005/1989.back