The Companies (1986 Order) (Small Companies’ Accounts and Audit) Regulations (Northern Ireland) 2006

Exemption for small groups

3.—(1) Article 256 of the 1986 Order (exemption for small and medium-sized groups)(1) is amended as follows.

(2) In paragraph (2)—

(a) in sub-paragraph (b), after “a person” insert “(other than a small company)”, and

(b) for “or” at the end of that sub-paragraph substitute—

“(ba) a small company that is an authorised insurance company, a banking company, an e-money issuer, an ISD investment firm or a UCITS management company, or”.

(3) After that paragraph insert—

“(2A) A company is a small company for the purposes of paragraph (2) if it qualified as small in relation to its last financial year ending on or before the end of the financial year to which the group accounts relate.”.

(1)

Article 256 was inserted by Article 15 of S.I. 1990/593 (N.I. 5), amended by regulation 8 of S.R. 1997 No. 314 and article 52 of S.I. 2001/3649