S.I. 1994/1983.

Paragraph 24A, together with paragraphs 24B to 24F, was inserted by S.I. 2005/2210. Sub-paragraph (3A) was inserted by S.I. 2008/1144. Other amendments have been made to paragraph 24A but none is relevant.

S.I. 1998/504.

Paragraph 31A, together with paragraphs 31B to 31F, was inserted by S.I. 2004/3199. Sub-paragraph (3A) was inserted by S.I. 2008/1143. Other amendments have been made to paragraph 31A but none is relevant.

S.I. 2008/373, amended by S.I. 2017/1164; there are other amending instruments but none is relevant.

S.I. 2008/409, amended by S.I. 2015/980; there are other amending instruments but none is relevant.

S.I. 2008/410, amended by S.I. 2015/980; there are other amending instruments but none is relevant.

S.I. 2008/1911.

Relevant amendments were made to regulation 5 by S.I. 2016/575.

Relevant amendments were made to regulation 9 by S.I. 2012/2301 and 2016/575.

Relevant amendments were made to regulation 10 by S.I. 2012/2301 and 2016/575.

There are amendments to regulation 26 but none is relevant.

Regulation 30 was amended by S.I. 2016/575.

Regulation 32 was amended by S.I. 2009/1342, 2009/1804, 2011/99, 2012/1439, 2013/472 and 2016/575.

Regulation 34A was inserted by S.I. 2012/2301. There are amendments but none is relevant.

S.I. 2008/1912.

Paragraph 36(4) was substituted by S.I. 2016/575.

Paragraph 64 was inserted by S.I. 2016/575.

S.I. 2008/1913.

Paragraph 36(4) was substituted by S.I. 2016/575.

S.I. 2014/3209, to which there are amendments but none is relevant.

http://www.legislation.gov.uk/uksi/2019/685/schedule/1/part/2/madeThe International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019enKing's Printer of Acts of Parliament2020-03-05EXITING THE EUROPEAN UNIONCOMPANIESLIMITED LIABILITY PARTNERSHIPSThese Regulations are made in exercise of the powers conferred by section 8 of the European Union (Withdrawal) Act 2018 (c. 16) in order to address failures of retained EU law to operate effectively and other deficiencies arising from the withdrawal of the United Kingdom from the European Union. In particular, these Regulations address deficiencies under paragraphs (b), (d) and (g) of section 8(2) of the Act and transfer functions under section 8(6) of the Act. The Regulations make provision in the field of the adoption and use of international accounting standards.SCHEDULE 1Consequential amendments and transitional provision relating to the adoption of international accounting standards in the United KingdomPART 2Amendments to Subordinate Legislation53Amendment to the Friendly Societies (Accounts and Related Provisions) Regulations 1994

In the Friendly Societies (Accounts and Related Provisions) Regulations 1994, in Schedule 6 (accounting principles and rules), in paragraph 24A(3A) (inclusion of financial instruments at fair value) for the words “international accounting standards adopted by the European Commission on or before 5th September 2006 in accordance with the IAS Regulation” substitute “UK-adopted international accounting standards within the meaning of section 474(1) of the Companies Act 2006”.

54Amendment to the Building Societies (Accounts and Related Provisions) Regulations 1998

In the Building Societies (Accounts and Related Provisions) Regulations 1998, in Schedule 7 (accounting principles and rules), in paragraph 31A(3A) (inclusion of financial instruments at fair value), for “international accounting standards adopted by the European Commission on or before 5th September 2006 in accordance with the IAS Regulation” substitute “UK-adopted international accounting standards within the meaning of section 474(1) of the Companies Act 2006”.

55Amendments to the Companies (Revision of Defective Accounts and Reports) Regulations 20081

The Companies (Revision of Defective Accounts and Reports) Regulations 2008 are amended as follows.

2

In regulation 3 (content of revised accounts or revised report)—

a

in paragraph (1), omit “and, where applicable, Article 4 of the IAS Regulation”;

b

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

3

In regulation 7 (auditor’s report on revised accounts and revised report)—

a

in paragraph (1A)(b), omit “(and, where applicable, Article 4 of the IAS Regulation)”;

b

in paragraph (3), omit “and, where applicable, Article 4 of the IAS Regulation”.

56Amendments to the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008

In Schedule 1 (Companies Act individual accounts) to the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008

a

in Part 2 (accounting principles and rules), in paragraph 36(4), for “international accounting standards” substitute “UK-adopted international accounting standards”;

b

in Part 3 (notes to the accounts), in paragraph 66(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.

57Amendments to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 20081

The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 are amended as follows.

2

In Schedule 1 (Companies Act individual accounts: companies which are not banking or insurance companies)—

a

in Part 2 (accounting principles and rules), in paragraph 36(4), for “international accounting standards” substitute “UK-adopted international accounting standards”;

b

in Part 3 (notes to the accounts), in paragraph 72(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.

3

In Schedule 2 (banking companies: Companies Act individual accounts)—

a

in Part 2 (accounting principles and rules), in paragraph 44(4), for “international accounting standards” substitute “UK-adopted international accounting standards”;

b

in Part 3 (notes to the accounts), in paragraph 92(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.

4

In Schedule 3 (insurance companies: Companies Act individual accounts)—

a

in Part 2 (accounting principles and rules), in paragraph 30(4), for “international accounting standards” substitute “UK-adopted international accounting standards”;

b

in Part 3 (notes to the accounts), in paragraph 90(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.

58Amendments to the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 20081

The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 are amended as follows.

2

In regulation 5 (LLPs subject to the small LLPs regime), in the modified version of section 383 (LLPs qualifying as small: parent LLPs), in subsection (6), for “international accounting standards” substitute “UK-adopted international accounting standards”.

3

In regulation 9 (individual accounts)

a

in the modified version of section 394A (individual accounts: exemption for dormant subsidiaries), in subsection (2)(c)(ii), for “international accounting standards” substitute “UK-adopted international accounting standards”;

b

in the modified version of section 395 (individual accounts: applicable accounting framework), in subsections (1)(b) and (2), for “international accounting standards” substitute “UK-adopted international accounting standards”;

c

in the modified version of section 397 (IAS individual accounts), in subsection (2), for “international accounting standards” substitute “UK-adopted international accounting standards”.

4

In regulation 10 (group accounts)

a

in the modified version of section 400 (exemption for LLP included in EEA group accounts of larger group), in subsection (2)(b)(ii), for “international accounting standards” substitute “UK-adopted international accounting standards”;

b

in the modified version of section 401 (exemption for LLP included in non-EEA group accounts of larger group), in subsection (2)(b)(iii), for “international accounting standards adopted pursuant to the IAS Regulation” substitute “UK-adopted international accounting standards”;

c

in the modified version of section 403 (group accounts: applicable accounting framework)—

i

in subsections (1)(b) and (2), for “international accounting standards” substitute “UK-adopted international accounting standards”;

d

in the modified version of section 406 (IAS group accounts), in subsection (2), for “international accounting standards” substitute “UK-adopted international accounting standards”.

5

In regulation 26 (medium-sized LLPs), in the modified version of section 466 (LLPs qualifying as medium-sized: parent LLPs), in subsection (6), for “international accounting standards” substitute “UK-adopted international accounting standards”.

6

In regulation 30 (notes to the accounts), in the modified version of section 472, in subsection (2), for “international accounting standards” substitute “UK-adopted international accounting standards”.

7

In regulation 32 (minor definitions), in the modified version of section 474, in subsection (1)—

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 the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019.

.

8

In regulation 34A (exemption from audit: qualifying subsidiaries), in the modified version of section 479A (subsidiary LLPs: conditions for exemption from audit), in subsection (2)(c)(ii), for “international accounting standards” substitute “UK-adopted international accounting standards (within the meaning given by section 474(1))”.

59Amendments to the Small Limited Liability Partnerships (Accounts) Regulations 2008

In the Small Limited Liability Partnerships (Accounts) Regulations 2008, in Schedule 1 (non-IAS individual accounts)—

a

in Part 2 (accounting principles and rules), in paragraph 36(4), for “international accounting standards” substitute “UK-adopted international accounting standards”;

b

in Part 3 (notes to the accounts), in paragraph 64(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.

60Amendments to the Large and Medium-sized Limited Liability Partnerships (Accounts) Regulations 2008

In the Large and Medium-sized Limited Liability Partnerships (Accounts) Regulations 2008, in Schedule 1 (non-IAS individual accounts)—

a

in Part 2 (accounting principles and rules), in paragraph 36(4), for “international accounting standards” substitute “UK-adopted international accounting standards”;

b

in Part 3 (notes to the accounts), in paragraph 70(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.

61Amendments to the Reports on Payments to Governments Regulations 2014

In the Reports on Payments to Governments Regulations 2014, in regulation 10 (exemption from duty to prepare a consolidated report), in paragraph (4), for “international accounting standards” substitute “UK-adopted international accounting standards”.

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<note class="footnote" eId="f00052">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/1994/1983">S.I. 1994/1983</ref>
.
</p>
</note>
<note class="footnote" eId="f00053">
<p>
Paragraph 24A, together with paragraphs 24B to 24F, was inserted by
<ref href="http://www.legislation.gov.uk/id/uksi/2005/2210">S.I. 2005/2210</ref>
. Sub-paragraph (3A) was inserted by
<ref href="http://www.legislation.gov.uk/id/uksi/2008/1144">S.I. 2008/1144</ref>
. Other amendments have been made to paragraph 24A but none is relevant.
</p>
</note>
<note class="footnote" eId="f00054">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/1998/504">S.I. 1998/504</ref>
.
</p>
</note>
<note class="footnote" eId="f00055">
<p>
Paragraph 31A, together with paragraphs 31B to 31F, was inserted by
<ref href="http://www.legislation.gov.uk/id/uksi/2004/3199">S.I. 2004/3199</ref>
. Sub-paragraph (3A) was inserted by
<ref href="http://www.legislation.gov.uk/id/uksi/2008/1143">S.I. 2008/1143</ref>
. Other amendments have been made to paragraph 31A but none is relevant.
</p>
</note>
<note class="footnote" eId="f00056">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2008/373">S.I. 2008/373</ref>
, amended by
<ref href="http://www.legislation.gov.uk/id/uksi/2017/1164">S.I. 2017/1164</ref>
; there are other amending instruments but none is relevant.
</p>
</note>
<note class="footnote" eId="f00057">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2008/409">S.I. 2008/409</ref>
, amended by
<ref href="http://www.legislation.gov.uk/id/uksi/2015/980">S.I. 2015/980</ref>
; there are other amending instruments but none is relevant.
</p>
</note>
<note class="footnote" eId="f00058">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2008/410">S.I. 2008/410</ref>
, amended by
<ref href="http://www.legislation.gov.uk/id/uksi/2015/980">S.I. 2015/980</ref>
; there are other amending instruments but none is relevant.
</p>
</note>
<note class="footnote" eId="f00059">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2008/1911">S.I. 2008/1911</ref>
.
</p>
</note>
<note class="footnote" eId="f00060">
<p>
Relevant amendments were made to regulation 5 by
<ref href="http://www.legislation.gov.uk/id/uksi/2016/575">S.I. 2016/575</ref>
.
</p>
</note>
<note class="footnote" eId="f00061">
<p>
Relevant amendments were made to regulation 9 by
<ref href="http://www.legislation.gov.uk/id/uksi/2012/2301">S.I. 2012/2301</ref>
and
<ref href="http://www.legislation.gov.uk/id/uksi/2016/575">2016/575</ref>
.
</p>
</note>
<note class="footnote" eId="f00062">
<p>
Relevant amendments were made to regulation 10 by
<ref href="http://www.legislation.gov.uk/id/uksi/2012/2301">S.I. 2012/2301</ref>
and
<ref href="http://www.legislation.gov.uk/id/uksi/2016/575">2016/575</ref>
.
</p>
</note>
<note class="footnote" eId="f00063">
<p>There are amendments to regulation 26 but none is relevant.</p>
</note>
<note class="footnote" eId="f00064">
<p>
Regulation 30 was amended by
<ref href="http://www.legislation.gov.uk/id/uksi/2016/575">S.I. 2016/575</ref>
.
</p>
</note>
<note class="footnote" eId="f00065">
<p>
Regulation 32 was amended by
<ref href="http://www.legislation.gov.uk/id/uksi/2009/1342">S.I. 2009/1342</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2009/1804">2009/1804</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2011/99">2011/99</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2012/1439">2012/1439</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2013/472">2013/472</ref>
and
<ref href="http://www.legislation.gov.uk/id/uksi/2016/575">2016/575</ref>
.
</p>
</note>
<note class="footnote" eId="f00066">
<p>
Regulation 34A was inserted by
<ref href="http://www.legislation.gov.uk/id/uksi/2012/2301">S.I. 2012/2301</ref>
. There are amendments but none is relevant.
</p>
</note>
<note class="footnote" eId="f00067">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2008/1912">S.I. 2008/1912</ref>
.
</p>
</note>
<note class="footnote" eId="f00068">
<p>
Paragraph 36(4) was substituted by
<ref href="http://www.legislation.gov.uk/id/uksi/2016/575">S.I. 2016/575</ref>
.
</p>
</note>
<note class="footnote" eId="f00069">
<p>
Paragraph 64 was inserted by
<ref href="http://www.legislation.gov.uk/id/uksi/2016/575">S.I. 2016/575</ref>
.
</p>
</note>
<note class="footnote" eId="f00070">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2008/1913">S.I. 2008/1913</ref>
.
</p>
</note>
<note class="footnote" eId="f00071">
<p>
Paragraph 36(4) was substituted by
<ref href="http://www.legislation.gov.uk/id/uksi/2016/575">S.I. 2016/575</ref>
.
</p>
</note>
<note class="footnote" eId="f00072">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2014/3209">S.I. 2014/3209</ref>
, to which there are amendments but none is relevant.
</p>
</note>
</notes>
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<hcontainer name="schedule" eId="schedule-1">
<num>SCHEDULE 1</num>
<heading>Consequential amendments and transitional provision relating to the adoption of international accounting standards in the United Kingdom</heading>
<part eId="schedule-1-part-2">
<num>PART 2</num>
<heading>Amendments to Subordinate Legislation</heading>
<paragraph eId="schedule-1-paragraph-53">
<num>53</num>
<heading>Amendment to the Friendly Societies (Accounts and Related Provisions) Regulations 1994</heading>
<content>
<p>
In the Friendly Societies (Accounts and Related Provisions) Regulations 1994
<noteRef href="#f00052" class="footnote" marker="52"/>
, in Schedule 6 (accounting principles and rules), in paragraph 24A(3A)
<noteRef href="#f00053" class="footnote" marker="53"/>
(inclusion of financial instruments at fair value) for the words “international accounting standards adopted by the European Commission on or before 5th September 2006 in accordance with the IAS Regulation” substitute “UK-adopted international accounting standards within the meaning of section 474(1) of the Companies Act 2006”.
</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-54">
<num>54</num>
<heading>Amendment to the Building Societies (Accounts and Related Provisions) Regulations 1998</heading>
<content>
<p>
In the Building Societies (Accounts and Related Provisions) Regulations 1998
<noteRef href="#f00054" class="footnote" marker="54"/>
, in Schedule 7 (accounting principles and rules), in paragraph 31A(3A)
<noteRef href="#f00055" class="footnote" marker="55"/>
(inclusion of financial instruments at fair value), for “international accounting standards adopted by the European Commission on or before 5th September 2006 in accordance with the IAS Regulation” substitute “UK-adopted international accounting standards within the meaning of section 474(1) of the Companies Act 2006”.
</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-55">
<num>55</num>
<heading>Amendments to the Companies (Revision of Defective Accounts and Reports) Regulations 2008</heading>
<subparagraph eId="schedule-1-paragraph-55-1">
<num>1</num>
<content>
<p>
The Companies (Revision of Defective Accounts and Reports) Regulations 2008
<noteRef href="#f00056" class="footnote" marker="56"/>
are amended as follows.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-55-2">
<num>2</num>
<intro>
<p>In regulation 3 (content of revised accounts or revised report)—</p>
</intro>
<paragraph eId="schedule-1-paragraph-55-2-a">
<num>a</num>
<content>
<p>in paragraph (1), omit “and, where applicable, Article 4 of the IAS Regulation”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-55-2-b">
<num>b</num>
<content>
<p>in paragraph (2)(b), for “international accounting standards” substitute “UK-adopted international accounting standards”.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-55-3">
<num>3</num>
<intro>
<p>In regulation 7 (auditor’s report on revised accounts and revised report)—</p>
</intro>
<paragraph eId="schedule-1-paragraph-55-3-a">
<num>a</num>
<content>
<p>in paragraph (1A)(b), omit “(and, where applicable, Article 4 of the IAS Regulation)”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-55-3-b">
<num>b</num>
<content>
<p>in paragraph (3), omit “and, where applicable, Article 4 of the IAS Regulation”.</p>
</content>
</paragraph>
</subparagraph>
</paragraph>
<paragraph eId="schedule-1-paragraph-56">
<num>56</num>
<heading>Amendments to the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008</heading>
<intro>
<p>
In Schedule 1 (Companies Act individual accounts) to the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008
<noteRef href="#f00057" class="footnote" marker="57"/>
</p>
</intro>
<paragraph eId="schedule-1-paragraph-56-a">
<num>a</num>
<content>
<p>in Part 2 (accounting principles and rules), in paragraph 36(4), for “international accounting standards” substitute “UK-adopted international accounting standards”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-56-b">
<num>b</num>
<content>
<p>in Part 3 (notes to the accounts), in paragraph 66(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.</p>
</content>
</paragraph>
</paragraph>
<paragraph eId="schedule-1-paragraph-57">
<num>57</num>
<heading>Amendments to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008</heading>
<subparagraph eId="schedule-1-paragraph-57-1">
<num>1</num>
<content>
<p>
The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008
<noteRef href="#f00058" class="footnote" marker="58"/>
are amended as follows.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-57-2">
<num>2</num>
<intro>
<p>In Schedule 1 (Companies Act individual accounts: companies which are not banking or insurance companies)—</p>
</intro>
<paragraph eId="schedule-1-paragraph-57-2-a">
<num>a</num>
<content>
<p>in Part 2 (accounting principles and rules), in paragraph 36(4), for “international accounting standards” substitute “UK-adopted international accounting standards”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-57-2-b">
<num>b</num>
<content>
<p>in Part 3 (notes to the accounts), in paragraph 72(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-57-3">
<num>3</num>
<intro>
<p>In Schedule 2 (banking companies: Companies Act individual accounts)—</p>
</intro>
<paragraph eId="schedule-1-paragraph-57-3-a">
<num>a</num>
<content>
<p>in Part 2 (accounting principles and rules), in paragraph 44(4), for “international accounting standards” substitute “UK-adopted international accounting standards”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-57-3-b">
<num>b</num>
<content>
<p>in Part 3 (notes to the accounts), in paragraph 92(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-57-4">
<num>4</num>
<intro>
<p>In Schedule 3 (insurance companies: Companies Act individual accounts)—</p>
</intro>
<paragraph eId="schedule-1-paragraph-57-4-a">
<num>a</num>
<content>
<p>in Part 2 (accounting principles and rules), in paragraph 30(4), for “international accounting standards” substitute “UK-adopted international accounting standards”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-57-4-b">
<num>b</num>
<content>
<p>in Part 3 (notes to the accounts), in paragraph 90(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.</p>
</content>
</paragraph>
</subparagraph>
</paragraph>
<paragraph eId="schedule-1-paragraph-58">
<num>58</num>
<heading>Amendments to the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008</heading>
<subparagraph eId="schedule-1-paragraph-58-1">
<num>1</num>
<content>
<p>
The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008
<noteRef href="#f00059" class="footnote" marker="59"/>
are amended as follows.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-58-2">
<num>2</num>
<content>
<p>
In regulation 5 (LLPs subject to the small LLPs regime)
<noteRef href="#f00060" class="footnote" marker="60"/>
, in the modified version of section 383 (LLPs qualifying as small: parent LLPs), in subsection (6), for “international accounting standards” substitute “UK-adopted international accounting standards”.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-58-3">
<num>3</num>
<intro>
<p>
In regulation 9 (individual accounts)
<noteRef href="#f00061" class="footnote" marker="61"/>
</p>
</intro>
<paragraph eId="schedule-1-paragraph-58-3-a">
<num>a</num>
<content>
<p>in the modified version of section 394A (individual accounts: exemption for dormant subsidiaries), in subsection (2)(c)(ii), for “international accounting standards” substitute “UK-adopted international accounting standards”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-58-3-b">
<num>b</num>
<content>
<p>in the modified version of section 395 (individual accounts: applicable accounting framework), in subsections (1)(b) and (2), for “international accounting standards” substitute “UK-adopted international accounting standards”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-58-3-c">
<num>c</num>
<content>
<p>in the modified version of section 397 (IAS individual accounts), in subsection (2), for “international accounting standards” substitute “UK-adopted international accounting standards”.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-58-4">
<num>4</num>
<intro>
<p>
In regulation 10 (group accounts)
<noteRef href="#f00062" class="footnote" marker="62"/>
</p>
</intro>
<paragraph eId="schedule-1-paragraph-58-4-a">
<num>a</num>
<content>
<p>in the modified version of section 400 (exemption for LLP included in EEA group accounts of larger group), in subsection (2)(b)(ii), for “international accounting standards” substitute “UK-adopted international accounting standards”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-58-4-b">
<num>b</num>
<content>
<p>in the modified version of section 401 (exemption for LLP included in non-EEA group accounts of larger group), in subsection (2)(b)(iii), for “international accounting standards adopted pursuant to the IAS Regulation” substitute “UK-adopted international accounting standards”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-58-4-c">
<num>c</num>
<intro>
<p>in the modified version of section 403 (group accounts: applicable accounting framework)—</p>
</intro>
<subparagraph eId="schedule-1-paragraph-58-4-c-i">
<num>i</num>
<content>
<p>in subsections (1)(b) and (2), for “international accounting standards” substitute “UK-adopted international accounting standards”;</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-1-paragraph-58-4-d">
<num>d</num>
<content>
<p>in the modified version of section 406 (IAS group accounts), in subsection (2), for “international accounting standards” substitute “UK-adopted international accounting standards”.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-58-5">
<num>5</num>
<content>
<p>
In regulation 26 (medium-sized LLPs)
<noteRef href="#f00063" class="footnote" marker="63"/>
, in the modified version of section 466 (LLPs qualifying as medium-sized: parent LLPs), in subsection (6), for “international accounting standards” substitute “UK-adopted international accounting standards”.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-58-6">
<num>6</num>
<content>
<p>
In regulation 30 (notes to the accounts)
<noteRef href="#f00064" class="footnote" marker="64"/>
, in the modified version of section 472, in subsection (2), for “international accounting standards” substitute “UK-adopted international accounting standards”.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-58-7">
<num>7</num>
<intro>
<p>
In regulation 32 (minor definitions)
<noteRef href="#f00065" class="footnote" marker="65"/>
, in the modified version of section 474, in subsection (1)—
</p>
</intro>
<paragraph eId="schedule-1-paragraph-58-7-a">
<num>a</num>
<content>
<p>omit the definition of “IAS Regulation”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-58-7-b">
<num>b</num>
<content>
<p>
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
<ref href="http://www.legislation.gov.uk/european/regulation/2002/1606">(EC) No. 1606/2002</ref>
of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards”;
</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-58-7-c">
<num>c</num>
<content>
<p>in the definition of “profit and loss account”, for “international accounting standards” substitute “UK-adopted international accounting standards”;</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-58-7-d">
<num>d</num>
<content>
<p>after the definition of “UCITS management company”, insert—</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="unknown unknown unknown double" startQuote="" endQuote="">
<blockList class="unordered">
<item>
<p>“UK-adopted international accounting standards” means the international accounting standards which are adopted for use within the United Kingdom by virtue of the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019.</p>
</item>
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<inline name="AppendText">.</inline>
</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-1-paragraph-58-8">
<num>8</num>
<content>
<p>
In regulation 34A (exemption from audit: qualifying subsidiaries)
<noteRef href="#f00066" class="footnote" marker="66"/>
, in the modified version of section 479A (subsidiary LLPs: conditions for exemption from audit), in subsection (2)(c)(ii), for “international accounting standards” substitute “UK-adopted international accounting standards (within the meaning given by section 474(1))”.
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-1-paragraph-59">
<num>59</num>
<heading>Amendments to the Small Limited Liability Partnerships (Accounts) Regulations 2008</heading>
<intro>
<p>
In the Small Limited Liability Partnerships (Accounts) Regulations 2008
<noteRef href="#f00067" class="footnote" marker="67"/>
, in Schedule 1 (non-IAS individual accounts)—
</p>
</intro>
<paragraph eId="schedule-1-paragraph-59-a">
<num>a</num>
<content>
<p>
in Part 2 (accounting principles and rules), in paragraph 36(4)
<noteRef href="#f00068" class="footnote" marker="68"/>
, for “international accounting standards” substitute “UK-adopted international accounting standards”;
</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-59-b">
<num>b</num>
<content>
<p>
in Part 3 (notes to the accounts), in paragraph 64(5)
<noteRef href="#f00069" class="footnote" marker="69"/>
, for “international accounting standards” substitute “UK-adopted international accounting standards”.
</p>
</content>
</paragraph>
</paragraph>
<paragraph eId="schedule-1-paragraph-60">
<num>60</num>
<heading>Amendments to the Large and Medium-sized Limited Liability Partnerships (Accounts) Regulations 2008</heading>
<intro>
<p>
In the Large and Medium-sized Limited Liability Partnerships (Accounts) Regulations 2008
<noteRef href="#f00070" class="footnote" marker="70"/>
, in Schedule 1 (non-IAS individual accounts)—
</p>
</intro>
<paragraph eId="schedule-1-paragraph-60-a">
<num>a</num>
<content>
<p>
in Part 2 (accounting principles and rules), in paragraph 36(4)
<noteRef href="#f00071" class="footnote" marker="71"/>
, for “international accounting standards” substitute “UK-adopted international accounting standards”;
</p>
</content>
</paragraph>
<paragraph eId="schedule-1-paragraph-60-b">
<num>b</num>
<content>
<p>in Part 3 (notes to the accounts), in paragraph 70(5), for “international accounting standards” substitute “UK-adopted international accounting standards”.</p>
</content>
</paragraph>
</paragraph>
<paragraph eId="schedule-1-paragraph-61">
<num>61</num>
<heading>Amendments to the Reports on Payments to Governments Regulations 2014</heading>
<content>
<p>
In the Reports on Payments to Governments Regulations 2014
<noteRef href="#f00072" class="footnote" marker="72"/>
, in regulation 10 (exemption from duty to prepare a consolidated report), in paragraph (4), for “international accounting standards” substitute “UK-adopted international accounting standards”.
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