The Companies Act 1985 (Investment Companies and Accounting and Audit Amendments) Regulations 2005

Made: 3rd August 2005

Laid before Parliament: 15th August 2005

Coming into force

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PART 1 — General

Citation, commencement and interpretation

1

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PART 2 — Distributions by investment companies

Other permitted distributions by investment companies

2

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PART 3 — Adjustment of non-comparable amounts

Adjustment of prior year items in balance sheet and profit and loss account

3

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Prior year disclosures in notes to accounts

4

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Adjustment of prior year items in small company balance sheet and profit and loss account

5

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Prior year disclosures in notes to small company accounts prepared for members

6

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Prior year disclosures in notes to small company abbreviated accounts

7

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Adjustment of prior year items in balance sheet and profit and loss account of banking companies

8

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Prior year disclosures in notes to accounts of banking companies

9

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Adjustment of prior year items in balance sheet and profit and loss account of insurance companies

10

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Prior year disclosures in notes to accounts of insurance companies

11

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PART 4 — Small and Medium-sized companies

Special provisions for small companies

12

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Disapplication of special provisions for small and medium-sized companies

13

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Application of SI 2005/1011, regulation 6

14

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Dormant companies

15

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Cases where exemption from audit not available

16

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Definition of “regulated activity”

17

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PART 5 — Consequential amendments

18

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Signed

Gerry Sutcliffe — Parliamentary Under Secretary of State — Department of Trade and Industry — 3rd August 2005

Explanatory note

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Footnotes

[^f00001]: S.I. 1999/654.

[^f00002]: 1972 c. 68; as amended by the European Economic Area Act 1993 (c. 51).

[^f00003]: 1985 c. 6; section 257 was substituted by section 20 of the Companies Act 1989 (c. 40), and amended by section 13 of the Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 27).

[^f00004]: Section 265 was amended by section 212(2) of, and paragraph 19 of Schedule 16 to, the Financial Services Act 1986 (c. 60), by regulation 2 of S.I. 1999/2770, by article 17 of S.I. 2001/3649, and by regulations 3 and 15 of, and paragraph 23 of Schedule 1and paragraph 9 of Schedule 7 to, S.I. 2004/2947.

[^f00005]: Paragraph 58 was amended by section 4(2) of, and paragraph 10 of Schedule 1 to, the Companies Act 1989.

[^f00006]: Schedule 8 was substituted by regulation 2(2) of, and Schedule 1 to, S.I. 1997/220.

[^f00007]: Schedule 8A was inserted by regulation 2(3) of, and Schedule 2 to, S.I. 1997/220.

[^f00008]: Parts 1 to 3 of Schedule 9 were inserted before a re-numbered Schedule 9A by regulation 5(1) of, and Schedule 1 to, S.I. 1991/2705. Part 4 of Schedule 9 was substituted by section 18(3) and (4) of, and Part 4 of Schedule 7 to, the Companies Act 1989.

[^f00009]: Parts 1 and 2 of Schedule 9 to the Companies Act 1985 were formed into a new Schedule 9A by regulation 5(1) of S.I. 1991/2705. A new Schedule 9A was substituted by regulation 4 of, and Schedule 1 to, S.I. 1993/3246.

[^f00010]: Paragraph 54 was substituted by regulation 14(7) of, and paragraphs 1 and 6 of Schedule 5 to, S.I. 1996/189.

[^f00011]: Section 246 was substituted by regulation 2(1) of S.I. 1997/220, and amended by regulation 6(1) of S.I. 1997/570, by regulation 8(1) of S.I. 2000/1430, by regulations 3 and 13(2) of, and paragraph 12 of Schedule 1 to, S.I. 2004/2947 and by regulation 4 of S.I. 2005/1011.

[^f00012]: Section 249AA was inserted by regulation 3 of S.I. 2000/1430, and amended by article 13 of S.I. 2001/3649.

[^f00013]: Section 249B was inserted by regulation 2 of S.I. 1994/1935, and amended by regulation 10 of S.I. 1996/189, by regulation 3 of S.I. 1997/936 and by regulation 4 of S.I. 2000/1430.

[^f00014]: S.I. 2001/1090 as amended by S.I. 2004/355.

Editorial notes