45. In section 78A (interpretation of Part 6) M1—U.K.
(a)in subsection (1)—
(i)omit the definition of “IAS Regulation”;
(ii)in the definition of “income and expenditure account”, for “international accounting standards” substitute “ UK-adopted international accounting standards ”;
(iii)omit the definition of “international accounting standards”;
(iv)after the definition of “senior statutory auditor” insert—
““UK-adopted international accounting standards” has the meaning given by section 474(1) of the Companies Act 2006;”;
(b)in subsection (2)(c), for “international accounting standards” substitute “ UK-adopted international accounting standards ”.
Commencement Information
I1Sch. 1 para. 45 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M1Section 78A was inserted by S.I. 2005/2211 and amended by S.I. 2008/1140; there are other amending instruments but none is relevant.