The Accounts and Reports (Amendment) (EU Exit) Regulations 2019

8.  In section 399 (duty to prepare group accounts) M1 — U.K.

(a) in subsection (2B)—

(i) in paragraph (a), for “an EEA State” substitute “ any part of the United Kingdom ”;

(ii) in paragraph (b), for the words from “Directive 2013/34/EU” to the end substitute “ the requirements of this Part of this Act, and ”; and

(iii) for paragraph (c) substitute—

“(c) it—

(i) is an undertaking whose transferable securities are admitted to trading on a UK regulated market,

(ii) is a credit institution within the meaning given by Article 4(1)(1) of Regulation (EU) No. 575/2013 of the European Parliament and of the Council, which is a CRR firm within the meaning of Article 4(1)(2A) of that Regulation, or

(iii) would be an insurance undertaking within the meaning given by Article 2(1) of Council Directive 91/674/EEC of the European Parliament and of the Council on the annual accounts of insurance undertakings M2 were the United Kingdom a member State.”; and

(b) in subsection (3)—

(i) in the descriptive text in brackets after “section 400”, for “EEA” substitute “ UK ”; and

(ii) in the descriptive text in brackets after “section 401”, for “non-EEA” substitute “ non-UK ”.

Commencement Information

I1 Sch. 2 para. 8 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)(c)

Marginal Citations

M1 Section 399 was amended by S.I. 2015/980 and 2016/1245.

M2 OJ L 374, 31.12.1991, p. 7.