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Companies Act 1985
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Changes over time for: Section 248
Version Superseded: 01/12/2001
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Companies Act 1985, Section 248 is up to date with all changes known to be in force on or before 23 November 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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[F1248 Exemption for small and medium-sized groups.E+W+S
(1)A parent company need not prepare group accounts for a financial year in relation to which the group headed by that company qualifies as a small or medium-sized group and is not an ineligible group.
(2)A group is ineligible if any of its members is—
(a)a public company or a body corporate which (not being a company) has power under its constitution to offer its shares or debentures to the public and may lawfully exercise that power,
(b)an authorised institution under the Banking Act 1987,
(c)an insurance company to which Part II of the Insurance Companies Act 1982 applies, or
(d)an authorised person under the Financial Services Act 1986.
F2(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F1New ss. 248, 249 inserted (subject to the saving and transitional provisions in S.I. 1990/355, arts. 6–9, Sch. 2, by Companies Act 1989 (c. 40, SIF 27), ss. 1, 13(3), 213(2) as part of the text inserted in place of ss. 221–262 (as mentioned in s. 1(a) of the 1989 Act)
F2S. 248(3)(4) repealed (2.2.1996) by S.I. 1996/189, reg. 9
Modifications etc. (not altering text)
C1S. 248(2) amended (1.7.1994) by S.I. 1994/1696, reg. 68, Sch. 8 Pt. I para. 9(1)(a)
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