SCHEDULE 1 IAS ACCOUNTS: CONSEQUENTIAL AMENDMENTS TO 1985 ACT

4.  In section 221 (duty to keep accounting records)(1), in subsections (1)(b) and (4)–

(a) for “any balance sheet and profit and loss account prepared under this Part complies” substitute “any accounts required to be prepared under this Part comply”; and

(b) at the end insert “(and, where applicable, of Article 4 of the IAS Regulation)”.

(1)

Section 221 was substituted by section 2 of the Companies Act 1989.