Small companies: conditions for exemption from audit4.
In section 4776 of the 2006 Act (small companies: conditions for exemption from audit)—
(a)
in subsection (1), for “meets the following conditions in respect of” substitute “qualifies as a small company in relation to”;
(b)
omit subsections (2) and (3); and
(c)
in subsection (4), omit paragraph (b) and the preceding “and”.