Application and interpretation
This section has no associated Explanatory Memorandum
2.—(1) The amendments made by Part 1 of Schedule 1 have effect in relation to financial years of building societies beginning on or after 17th June 2016.
(2) The amendments made by Part 2 of Schedule 1 have effect in relation to financial years of friendly societies beginning on or after 17th June 2016.
(3) The amendments made by paragraphs 8 to 19 in Part 3 of Schedule 1 have effect in relation to financial years of companies beginning on or after 17th June 2016;
(4) The amendments made by Schedule 2 have effect in relation to financial years of insurance undertakings beginning on or after 17th June 2016.
(5) In Schedule 3—
(a)the amendments made by paragraphs 4 to 9 and 11 to 19 have effect in relation to financial years of limited liability partnerships beginning on or after 17th June 2016;
(b)the amendments made by paragraphs 2, 3 and 10 have effect in relation to financial years of limited liability partnerships beginning on or after 1st January 2017.
(6) Nothing in these Regulations makes any act or omission of any person occurring before 1st January 2018 an offence.
(7) These Regulations have no effect in relation to—
(a)copies of accounts and reports sent by the committee of management of a friendly society to the Financial Conduct Authority and, if appropriate, the Prudential Regulation Authority, under section 78(1) of the Friendly Societies Act 1992(),
(b)copies of accounts and reports sent by the directors of a building society to the Financial Conduct Authority and, if appropriate, the Prudential Regulation Authority, under section 81(2) of the Building Societies Act 1986(),
(c)copies of accounts and reports delivered by the directors of a company to the registrar under section 444, 444A, 445, 446 or 447 of the Companies Act 2006(),
(d)an annual return, copy of a balance sheet or copy of an auditor’s report sent by a registered society to the Financial Conduct Authority under section 89 of the Co-operative and Community Benefit Societies Act 2014() as modified by Schedule 1 to the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008(),
(e)an annual return, copy of a balance sheet or copy of an auditor’s report sent by a registered society to the registrar() under section 48 of the Industrial and Provident Societies Act (Northern Ireland) 1969() as modified by Schedule 2 to the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008,
(f)the accounts and reports in respect of an insurance undertaking which is not a registered society which are prepared or caused to be prepared in accordance with regulation 3 of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008, and
(g)copies of accounts and reports delivered by the designated members of an LLP to the registrar under section 444, 445 or 446 of the Companies Act 2006 as applied in respect of limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008(),
before 1st January 2018.
(8) In this regulation—
“building society” means a building society within the meaning of the Building Societies Act 1986();
“company” means a company within the meaning of section 1(1) of the Companies Act 2006;
“financial year”—
(a)
in relation to building societies, has the meaning given by sections 117 and 117A of the Building Societies Act 1986();
(b)
in relation to companies, has the meaning given by section 390 of the Companies Act 2006;
(c)
in relation to friendly societies, has the meaning given by section 118 of the Friendly Societies Act 1992;
(d)
in relation to insurance undertakings, has the meaning given by regulation 2(6) of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008;
(e)
in relation to limited liability partnerships, has the meaning given by section 390 of the Companies Act 2006 as it has been applied in respect of limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008;
“friendly society” means a friendly society within the meaning of the Friendly Societies Act 1992();
“insurance undertaking” has the meaning given by regulation 2(2) to (4) of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008;
“limited liability partnership” has the meaning given by section 1 of the Limited Liability Partnerships Act 2000;
“registered society” means—
(a)
a registered society within the meaning given by section 1(1) of the Co-operative and Community Benefit Societies Act 2014; or
(b)
a society registered or deemed to be registered under the Industrial and Provident Societies Act (Northern Ireland) 1969.