F1PART 6REVIEW

Annotations:
Amendments (Textual)

Review14

1

The Secretary of State must from time to time—

F2a

carry out a review, respectively, of the provisions of these Regulations to which amendments have been made by—

i

Part 6 of the Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (“the 2016 Regulations”), F9...

ii

Part 3 of the Companies (Miscellaneous Reporting) Regulations 2018, and

F10iii

Part 2 of the Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, and

b

set out the conclusions of F3each review in a F4separate report, and

c

publish the report.

2

The report must, in particular—

a

set out the objectives intended to be achieved by those provisions,

b

assess the extent to which those objectives are achieved,

c

assess whether those objectives remain appropriate, and

d

if those objectives remain appropriate, assess the extent to which they could be achieved in another way which involves less onerous regulatory provision.

3

In carrying out the review F5under paragraph (1)(a)(i), the Secretary of State must have regard to how the provisions of Directive 2013/34/EU of 26 June 2013 on the annual financial statements etc. of certain types of undertakings which are implemented by means of the provisions mentioned in paragraph (1)(a) are implemented in other Member States.

4

The first report under F6paragraph (1)(a)(i) must be published before the end of the period of 5 years beginning with the date on which the 2016 Regulations come into force.

F74A

The first report under paragraph (1)(a)(ii) must be published before the end of the period of 5 years beginning with the date on which Part 3 of the Companies (Miscellaneous Reporting) Regulations 2018 comes into force.

F114B

The first report under paragraph (1)(a)(iii) must be published before the end of the period of 5 years beginning with the date on which the Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018 come into force.

5

Subsequent reports under F8F12paragraphs (1)(a)(i) to (iii) respectively must be published at intervals not exceeding 5 years.

6

In this regulation, “regulatory provision” has the meaning given by section 32(4) of the Small Business, Enterprise and Employment Act 2015.