SCHEDULE 2TRANSITIONAL AND TRANSITORY PROVISIONS AND SAVINGS
PART 1ACCOUNTS AND REPORTS
CHAPTER 2FORMERLY EXEMPT CHARITIES
Requests for accounts made to formerly exempt charities5
1
Where a qualifying request is made, the accounts to be treated as the most recent accounts of the formerly exempt charity are the accounts specified in sub-paragraph (2).
2
The specified accounts are—
a
the accounts of the charity most recently audited in pursuance of any statutory or other requirement; or
b
if its accounts were not required to be so audited, the accounts most recently prepared in respect of that charity.
3
In this paragraph, “qualifying request” means a request made under section 47(2) of the 1993 Act for the most recent accounts of a formerly exempt charity at any time before—
a
in the case of a formerly exempt charity which is a company, the charity trustees of that charity have prepared an annual report under section 45 of that Act in respect of the financial year of the charity beginning immediately after the current financial year; or
b
in any other case, the charity trustees of that charity have prepared—
i
a statement of accounts under section 42(1) of that Act; or
ii
an account and statement under section 42(3) of that Act,
in respect of the financial year of the charity beginning immediately after the current financial year.