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

8.  In section 399 (duty to prepare group accounts)(1)—

(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(2) 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”.

(1)

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

(2)

OJ L 374, 31.12.1991, p. 7.