- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (28/09/2015)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 17/05/2016
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Companies Act 2006, Section
479A
is up to date with all changes known to be in force on or before 11 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)A company is exempt from the requirements of this Act relating to the audit of individual accounts for a financial year if—
(a)it is itself a subsidiary undertaking, and
(b) its parent undertaking is established under the law of an EEA State.
(2)Exemption is conditional upon compliance with all of the following conditions—
(a)all members of the company must agree to the exemption in respect of the financial year in question,
(b)the parent undertaking must give a guarantee under section 479C in respect of that year,
(c)the company must be included in the consolidated accounts drawn up for that year or to an earlier date in that year by the parent undertaking in accordance with—
[F2(i) the provisions of Directive 2013/34/ EU of the European Parliament and of the Council on the annual financial statements, consolidated statements and related reports of certain types of undertakings, or ]
(ii)international accounting standards,
(d)the parent undertaking must disclose in the notes to the consolidated accounts that the company is exempt from the requirements of this Act relating to the audit of individual accounts by virtue of this section, and
(e)the directors of the company must deliver to the registrar on or before the date that they file the accounts for that year—
(i)a written notice of the agreement referred to in subsection (2)(a),
(ii)the statement referred to in section 479C(1),
(iii)a copy of the consolidated accounts referred to in subsection (2)(c),
(iv)a copy of the auditor's report on those accounts, and
(v)a copy of the consolidated annual report drawn up by the parent undertaking.
(3)This section has effect subject to—
section 475(2) and (3) (requirements as to statements contained in balance sheet), and
section 476 (right of members to require audit).]
Textual Amendments
F1Ss. 479A-479C and cross-heading inserted (1.10.2012 with application in accordance with reg. 2 of the amending S.I.) by The Companies and Limited Liability Partnerships (Accounts and Audit Exemptions and Change of Accounting Framework) Regulations 2012 (S.I. 2012/2301), regs. 1, 7
F2S. 479A(2)(c)(i) substituted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 10(2) (with reg. 3)
Modifications etc. (not altering text)
C1Ss. 479A, 479B, 479C applied (with modifications) by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 (S.I. 2008/1911), reg. 34A (as inserted (1.10.2012 with application in accordance with reg. 2 of the amending S.I.) by S.I. 2012/2301, regs. 1, 20(4))
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