The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019

50.  In Part 10 (audit requirement)—

(a) in regulation 34 (exemption from audit: small LLPs), in the modified section 478(a), for “regulated market in an EEA State” substitute “ UK regulated market ”;

[F1 (b) in regulation 34A (exemption from audit: qualifying subsidiaries), in the modified section 479A—

(i) in subsection (1)(b), for “an EEA State” substitute “ any part of the United Kingdom ”;

(ii) in subsection (2)(c), for sub-paragraph (i) substitute—

“(i) if the undertaking is a company, the requirements of Part 15 of this Act, or, if the undertaking is not a company, the legal requirements which apply to the drawing up of consolidated accounts for that undertaking, or”;

(c) in regulation 34A, in the modified section 479C(2)—

(i) for paragraph (b) substitute—

“(b) the registered number (if any) of the parent undertaking,”;

(ii) omit paragraph (c).]

Textual Amendments

F1 Reg. 50(b)(c) substituted for reg. 50(b) (31.12.2020 immediately before IP completion day) by The Statutory Auditors, Third Country Auditors and International Accounting Standards (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1392), regs. 1(2), 7; 2020 c. 1, Sch. 5 para. 1(1)

Commencement Information

I1 Reg. 50 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2