SCHEDULEMinor and Consequential Amendments

PART 2References to Accounting Standards Board

4

In paragraph 8 of the Schedule (contents of accounts etc) to the Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996 M1, for “the Accounting Standards Board”, substitute “ the Financial Reporting Council Limited ”.

Annotations:
Marginal Citations
M1

S.I. 1996/1975, to which there are amendments not relevant to this order.

5

In paragraph 8 of the Schedule (contents of accounts etc) to the Pension Protection Fund (Entry Rules) Regulations 2005 M2, for “the Accounting Standards Board”, substitute “ the Financial Reporting Council Limited ”.

Annotations:
Marginal Citations
M2

S.I. 2005/590, amended by S.I. 2005/993; there are other amending instruments, but none is relevant.

6

In paragraph 8 of the Schedule (contents of accounts etc) to the Pension Protection Fund (Valuation) Regulations 2005 M3, for “the Accounting Standards Board”, substitute “ the Financial Reporting Council Limited ”.

Annotations:
Marginal Citations
M3

S.I. 2005/672, amended by S.I. 2007/782; there are other amending instruments, but none is relevant.

7

In paragraph 8 of the Schedule to the Pension Protection Fund (Closed Schemes) Regulations 2007 M4, for “the Accounting Standards Board”, substitute “ the Financial Reporting Council Limited ”.

Annotations:
Marginal Citations
M4

S.I. 2007/865, to which there is an amendment not relevant to this Order.

8

For regulation 25 (accounting standards) of the 2008 Regulations, substitute—

25

Section 464 applies to LLPs, modified so that it reads as follows—

Accounting Standards464

1

In this Part “accounting standards” means statements of standard accounting practice issued by the Financial Reporting Council Limited.

2

References in this Part to accounting standards applicable to an LLP's annual accounts are to such standards as are, in accordance with their terms, relevant to the LLP's circumstances and to the accounts

9

For the definition of “applicable accounting principles” at regulation 16(9)(a) of the Charities (Accounts and Reports) Regulations 2008 M5 substitute—

a

“applicable accounting principles” means, in relation to a parent charity that is required to prepare group accounts, the methods and principles set out in—

i

the financial reporting standards and statements of standard accounting practice issued by the Financial Reporting Council Limited (“the Council”);

ii

any abstract issued by the Council which is relevant to the preparation of those accounts by that parent charity; and

iii

any statement of recommended practice (including the SORP) issued by a body recognised by the Council for the purpose of issuing guidance on the standards in paragraph (i) relevant to the preparation of those accounts by that parent charity.

Annotations:
Marginal Citations
M5

S.I. 2008/629, to which there are amendments not relevant to this Order.

10

For paragraph 10(19)(a) of Schedule 1 to the Unregistered Companies Regulations 2009 M6, substitute—

a

in subsection (1) for “such body or bodies as may be prescribed by regulations” substitute “ the Financial Reporting Council Limited ”.

11

In sub-paragraphs (a) and (b) of paragraph 19 (application of accounting standards) of Schedule 3 to the Payment Services Regulations 2009 M7, for “the Accounting Standards Board” substitute “ the Financial Reporting Council Limited ”.

Annotations:
Marginal Citations
M7

S.I. 2009/209, to which there are amendments not relevant to this Order.

12

In sub-paragraphs (a) and (b) of paragraph 25 (application of accounting standards) of Schedule 2 to the Electronic Money Regulations 2011 M8, for “the Accounting Standards Board”, substitute “ the Financial Reporting Council Limited ”.