PART 2 U.K. Amendment of the Act

Amendment of Chapter 1 of Part 16 (audit: requirement for audited accounts) U.K.

10.—(1) Chapter 1 of Part 16 of the Act is amended as follows.

(2) For sub-paragraph (i) of subsection (2)(c) of section 479A (subsidiary companies: conditions for exemption from audit) M1 , substitute—

“(i) the provisions of Directive 2013/34/EU of the European Parliament and of the Council on the annual financial statements, consolidated statements and related reports of certain types of undertakings, or”.

(3) In section 479B (companies excluded from the subsidiary companies audit exemption) M2 , for paragraph (a) substitute—

“(a) a traded company as defined in section 474(1),”

(4) In section 481 (companies excluded from dormant companies exemption), before paragraph (a), insert—

“(za) is a traded company as defined in section 474(1),”.

Marginal Citations

M1 Section 479A was inserted by S.I. 2012/2301, regulation 7.

M2 Section 479B was inserted by S.I. 2012/2301, regulation 7.