SCHEDULE 2CONSEQUENTIAL AMENDMENTS OF OTHER ENACTMENTS
The Companies (Revision of Defective Accounts and Report) Regulations 19901
1
The Companies (Revision of Defective Accounts and Report) Regulations 199021 are amended as follows.
2
In regulation 2 (interpretation)22—
a
omit the definitions of “date of the original operating and financial review” and “revised review”;
b
in the definition of “date of revision”—
i
for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”, and
ii
for “Regulation 5, 5A or 5B” substitute “Regulation 5 or 5A”;
c
in the definition of “original”—
i
for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”, and
ii
omit the words “or review”;
d
in the definitions of “revision by replacement” and “revision by supplementary note”, for “, directors' remuneration report or operating and financial review” (in each place) substitute “or directors' remuneration report”.
3
In regulation 3 (content of revised accounts, revised report or revised review)23—
a
in the heading, for “, revised report or revised review” substitute “or revised report”, and
b
in paragraph (4)—
i
for “, directors' remuneration report or operating and financial review” (in both places) substitute “or directors' remuneration report”, and
ii
omit “or review” (in both places).
4
Omit regulation 5B (approval and signature of revised operating and financial review)24.
5
In regulation 6 (auditors' report on revised accounts and revised report or review)25—
a
in the heading, omit “or review”, and
b
in paragraph (4), omit “or operating and financial review” and “or review” (in both places).
6
In regulation 7 (auditors' report on revised report or review alone)26—
a
in the heading, omit “or review”;
b
in paragraphs (1) and (2) omit “or review”;
c
omit paragraph (3A).
7
In regulation 9 (effect of revision)27—
a
in paragraph (1)—
i
for “revised report or review” (in both places) substitute “revised report”;
ii
for “Regulation 5, 5A or 5B” substitute “Regulation 5 or 5A”;
iii
for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”;
b
in paragraph (2)—
i
omit “or review”, and
ii
for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”.
8
In regulation 10 (publication of revised accounts, reports and reviews)28—
a
in the heading, for “, reports and reviews” substitute “and reports”;
b
in paragraph (1)—
i
for “revised report or review” substitute “revised report”, and
ii
for “, report or review” substitute “or report”;
c
in paragraphs (2) and (3) omit “or review” (in each place);
d
in paragraph (4)—
i
omit “or review”, and
ii
for “Regulation 5, 5A or 5B” substitute “Regulation 5 or 5A”.
9
In regulation 11 (laying of revised accounts or a revised report)29—
a
in the heading, omit “or review”;
b
in paragraph (1)—
i
for “revised report or review” substitute “revised report”, and
ii
for “, report or review” substitute “or report”;
c
in paragraphs (2) and (3), omit “or review” (in each place).
10
In regulation 12 (delivery of revised accounts or a revised report or review)30—
a
in the heading, omit “or review”;
b
in paragraph (1)—
i
for “revised report or review” substitute “revised report”, and
ii
for “, report or review” substitute “or report”;
c
in paragraph (2), omit “or review” (in each place).
11
In regulation 14 (summary financial statements)31—
a
in paragraph (2), omit “or review”;
b
in paragraph (4)—
i
omit “or review” (in both places), and
ii
for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”;
c
in paragraph (5), omit “or review”;
d
in paragraph (6), for “, the revised directors' remuneration report under Regulation 5A above or the revised operating and financial review under Regulation 5B above” substitute “or the revised directors' remuneration report under Regulation 5A above”.
12
In regulation 16 (modifications of the Act)32—
a
in paragraph (1), for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”, and
b
in paragraph (3), omit “or review”.
The Companies (Summary Financial Statement) Regulations 19952
1
The Companies (Summary Financial Statement) Regulations 199533 are amended as follows.
2
In regulation 2 (interpretation)34, in the definition of “full accounts and reports”—
a
omit “, the operating and financial review (if any)”, and
b
for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”.
3
In regulation 5(1) (consultation by notice)35—
a
in sub-paragraph (b), omit “or (in the case of a quoted company) the operating and financial review for that year”;
b
omit sub-paragraph (bb);
c
in sub-paragraph (e)(i), omit “or operating and financial review” and “or review”.
4
In paragraph 1(2) of Schedule 1 (form and content of summary financial statement of non-banking or insurance companies and groups)36, omit “, the operating and financial review (if any)”.
5
In paragraph 1(2) of Schedule 2 (form and content of summary financial statement of banking companies and groups)37, omit “, the operating and financial review (if any)”.
6
In paragraph 2(2) of Schedule 3 (form and content of summary financial statement of insurance companies and groups)38, omit “, the operating and financial review (if any)”.
The Limited Liability Partnerships Regulations 20013
1
Schedule 1 to the Limited Liability Partnerships Regulations 2001 (modifications to provisions of Part 7 of the 1985 Act as applied to limited liability partnerships)39 is amended as follows.
2
Omit the entries relating to sections 234AA (duty to prepare operating and financial review), 234AB (approval and signing of operating and financial review) and 256A (reporting standards for operating and financial review) of the 1985 Act40.
3
In the entries relating to section 239(1) (right to demand copies of accounts and reports) and 242(1) (accounts and reports to be delivered to registrar) of the 1985 Act41, omit the reference to paragraph (ba) (in both places).
4
In the entry relating to section 245 of the 1985 Act (voluntary revision of accounts)42—
a
for paragraph (a) of the entry relating to subsection (2) substitute—
a
Omit the words “or report” in both places where they occur, and
b
for paragraphs (a), (b) and (c)(i) of the entry relating to subsection (4) substitute—
a
In paragraph (a), omit the words “, statement or report”,
b
in paragraph (b), omit the words “or reporting accountant” and the words “, statement or report”, and
c
in paragraph (c)—
i
for “where the previous accounts or report” substitute “where the previous accounts”,
5
In the entry relating to section 245A of the 1985 Act (Secretary of State’s notice in respect of annual accounts, reports and reviews)43—
a
for paragraph (b) of the entry relating to subsection (1) substitute—
b
omit the words “or report”.
b
for the entry relating to subsection (2) substitute “Omit the words “or report” and the words “or a revised report”.”;
c
for the entry relating to subsection (3) substitute “Omit the words “or report” in both places where they occur.”;
d
for the entry relating to subsection (4) substitute “Omit the words “and revised directors' reports” and the words “or reports” in both places where they occur.”.
6
In the entry relating to section 245B of the 1985 Act (application in respect of defective accounts and reports)44—
a
for the entry relating to subsection (1) substitute “Omit the words “, or a directors' report does not comply,” and the words “or a revised report”.”;
b
for the entry relating to subsection (4) substitute “Omit the words “or report” in each place where they occur and the words “or a revised report”.”;
c
for the entry relating to subsection (5) substitute “Omit the words “or report” in both places where they occur.”;
d
for the entry relating to subsection (7) substitute “ Omit the words “and revised directors' reports” and the words “or reports” in both places where they occur.”.
7
For the entry relating to section 245C(1) of the 1985 Act (other persons authorised to apply to court)45 substitute “Omit the words “and directors' reports” in both places where they occur.”.