The Companies (1986 Order) (International Accounting Standards and Other Accounting Amendments) Regulations (Northern Ireland) 2004
PART 1GENERAL
1Citation, commencement and interpretation
PART 2ACCOUNTS PREPARED IN ACCORDANCE WITH INTERNATIONAL ACCOUNTING STANDARDS
2Preparation of individual and group accounts in accordance with IAS Regulation
3Consequential amendments
PART 3OTHER MODIFICATIONS OF PROVISIONS RELATING TO ACCOUNTS
4Exemption for parent companies included in accounts of larger non-EEA group
5Subsidiary undertakings included in consolidation
6Content of auditors' report
7Auditors' report to be dated
8Requirements for auditors' report published with accounts
9Repeal of 3 month extension for laying and delivering accounts etc
10Voluntary revision of annual accounts
11Summary financial statements
12Participating interest no longer required to be subsidiary undertaking
13Disclosures in relation to financial instruments
14Amendment of Schedules to the 1986 Order
15Minor and consequential amendments
SCHEDULE 1IAS ACCOUNTS: CONSEQUENTIAL AMENDMENTS TO 1986 ORDER
1The 1986 Order is amended as follows.
2(1) Article 2A (index of defined expressions) is amended as...
3In Article 10(1) (expressions used in connection with accounts) insert...
4In Article 162(2) (definition of “net assets” for Chapter VI...
5In Article 182(2) (determination of availability of profits where private...
6In Article 229 (duty to keep accounting records), in paragraphs...
7In Article 230(3)(b) (accounts and returns to be sent to...
8In Article 236 (exemption from obligation to prepare group accounts...
9In Article 237 (subsidiary undertakings included in the consolidation) –...
10In Article 238 (treatment of individual profit and loss account...
11After Article 239 insert – Disclosure required in notes to...
12In Article 241(5) (criminal penalty for failing to comply with...
13(1) In Articles 253 to 253C (revision of defective accounts...
14(1) Article 254 (special provisions for small companies) is amended...
15In Article 254A(1) (special provisions for medium-sized companies), in paragraph...
16In Article 255 (qualification of company as small or medium-sized),...
17In Article 256A(1)(b) (group accounts prepared by small company) for...
18In Article 257C (report required for the purposes of exemption...
19In Article 263 (special provisions for banking and insurance companies),...
20(1) Article 263A (special provisions for banking and insurance groups)...
21In Article 269(2) (notes to the accounts), after “any provision...
22(1) Article 270 (minor definitions) is amended as follows.
23(1) Article 270A (index of defined expressions) is amended as...
24In Article 272(2) (restriction on distribution of assets), after “Schedule...
25In Article 273(2) (other distributions by investment companies), after “Schedule...
26In Article 276(2)(aa) (realised profits of insurance company with long...
27(1) Article 277(2) (treatment of development costs) is amended as...
28In Article 278(2) (distribution to be justified by reference to...
29In Article 280(3) (interim accounts must be properly prepared) after...
30In Article 283 (treatment of assets in the relevant accounts),...
31(1) Schedule 4 (form and content of company accounts) is...
32In paragraph 25 of Schedule 6 (disclosure of information: emoluments...
33In Schedule 7, in paragraph 12(5)(c) (identifying amounts owed to...
34In Part I of Schedule 9 (form and content of...
35In Part I of Schedule 9A (form and content of...
36(1) Schedule 11 (modifications of Part IX for banking and...
SCHEDULE 2FORM AND CONTENT OF COMPANY ACCOUNTS
1Schedule 4 to the 1986 Order (form and content of...
2Omit sub-paragraph (7) of paragraph 3 (dividends in profit and...
3After paragraph 5 insert – The directors of a company must, in determining how amounts...
4(1) In the Balance Sheet Formats, for “provisions for liabilities...
5(1) Part II (accounting principles and rules) is amended as...
6(1) Part III (notes to the accounts) is amended as...
7(1) Part V (special provisions where the company is an...
8(1) Part VII (interpretation of Schedule) is amended as follows....
SCHEDULE 3FORM AND CONTENT OF ACCOUNTS PREPARED BY SMALL COMPANIES
1Schedule 8 to the 1986 Order (form and content of...
2Omit sub-paragraph (7) of paragraph 3 (dividends in profit and...
3After paragraph 5 insert – The directors of a company must, in determining how amounts...
4(1) In the Balance Sheet Formats, for “provisions for liabilities...
5(1) Part II (accounting principles and rules) is amended as...
6(1) Part III (notes to the accounts) is amended as...
7(1) Part IV (interpretation of Schedule) is amended as follows....
SCHEDULE 4FORM AND CONTENT OF ABBREVIATED ACCOUNTS OF SMALL COMPANIES DELIVERED TO REGISTRAR
1Schedule 8A to the 1986 Order (form and content of...
2(1) In the Balance Sheet Formats, for “provisions for liabilities...
3After paragraph 7 (notes to be included in small company...
SCHEDULE 5FORM AND CONTENT OF ACCOUNTS OF BANKING COMPANIES AND GROUPS
1Part I of Schedule 9 to the 1986 Order (form...
2Omit paragraph 8 (dividends in profit and loss account to...
3After paragraph 8 insert – The directors of a company must, in determining how amounts...
4In the Balance Sheet Format, under the heading “LIABILITIES”, for...
5In paragraph 19(b) (extent to which liabilities and losses to...
6In paragraph 23 (preliminary paragraph on historical cost accounting rules)...
7After paragraph 44 insert – FAIR VALUE ACCOUNTING Inclusion of...
8(1) Chapter III (notes to the accounts) is amended as...
9(1) Chapter IV (interpretation of Part I) is amended as...
SCHEDULE 6FORM AND CONTENT OF ACCOUNTS OF INSURANCE COMPANIES AND GROUPS
1Part I of Schedule 9A to the 1986 Order (form...
2Omit paragraph 5 (dividends in profit and loss account to...
3After paragraph 6 insert – The directors of a company must, in determining how amounts...
4In the Balance Sheet Format, under the heading “LIABILITIES”, for...
5In paragraph 16(b) (extent to which liabilities and losses to...
6(1) After paragraph 19 insert – Valuation (1) The amounts to be included in respect of assets...
7(1) In Chapter II (accounting principles and rules), after paragraph...
8(1) Chapter III (notes to the accounts) is amended as...
9(1) Chapter IV (interpretation of Part I) is amended as...
SCHEDULE 7MINOR AND CONSEQUENTIAL AMENDMENTS
PART Iamendments of the companies (northern ireland) order 1986
1The following minor and consequential amendments to the 1986 Order...
2In Article 162(2) (definition of “net assets” for Chapter VI...
3In Article 164(2)(b) (definition of “liabilities” for the purposes of...
4(1) Article 236 (exemption for parent companies included in accounts...
5In Article 239(5)(b) (disclosure required in notes to accounts of...
6Omit Article 251 (accounts of subsidiary undertakings to be appended...
7In Article 268 (definition of “participating interest”), omit paragraph (5)....
8In Article 272(2) (restriction on distribution of assets), for “provision...
9In Article 273(2) (other distributions by investment companies), for “provision...
10In Schedule 4A (interests in subsidiary undertakings excluded from consolidation),...
11In paragraph 25 of Schedule 6 (disclosure of information: emoluments...
12In Part II of Schedule 9 (undertakings to be included...
PART IIamendments of other statutory provisions
13In the Government Resources and Accounts Act (Northern Ireland) 2001,...
2004 No. 496
COMPANIES

The Companies (1986 Order) (International Accounting Standards and Other Accounting Amendments) Regulations (Northern Ireland) 2004

Made
To be laid before Parliament under paragraph 7(3) of the Schedule to the Northern Ireland Act 2000
Coming into operation
The Department of Enterprise, Trade and Investment1, in exercise of the powers conferred on it by Article 265 of the Companies (Northern Ireland) Order 19862 and of all other powers enabling it in that behalf, hereby makes the following Regulations: