The Companies (Bodies Concerned with Auditing Standards etc.) (Exemption from Liability) Regulations 2016

Made: 10th May 2016

Laid before Parliament: 10th May 2016

Coming into force: 1st June 2016

The Secretary of State, in exercise of the powers conferred by section 18A(1) and (3) of the Companies (Audit, Investigations and Community Enterprise) Act 2004 , makes the following Regulations:

Citation and commencement

1

These Regulations may be cited as the Companies (Bodies Concerned with Auditing Standards etc.) (Exemption from Liability) Regulations 2016, and come into force on 1st June 2016.

Exemption from liability

2

• (1) The exemption from liability in subsections (3) and (4) of section 18A (power to confer exemption from liability) of the Act applies to—

• (a) the Financial Reporting Council Limited, ...

• (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

in accordance with paragraph (2) .

• (2) The section 16(2) activities which are specified under section 18A(3) of the Act in relation to the exemption from liability provided for under paragraph (1)(a) are the activities within subsection 2(a) to (t) of section 16 (grants to bodies concerned with accounting standards etc) of the Act.

• (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (4) In this regulation “the Act” means the Companies (Audit, Investigations and Community Enterprise) Act 2004.

Signed

Neville-Rolfe — Parliamentary Under Secretary of State for Business, Innovation and Skills — 2016-05-10

Explanatory note

(This note is not part of the Regulations)

Footnotes

[^f00001]: 2004 c. 27. Section 18A was inserted by section 38 of the Small Business, Enterprise and Employment Act 2015 (c. 26); see section 18A(5) for the definition of “specified”.

[^f00002]: A company registered in England and Wales with number 02486368.

[^f00003]: “Section 16(2) activities” is defined in section 18A(5) of the Companies (Audit, Investigations and Community Enterprise) Act 2004.

Editorial notes

[^c23157291]: 2004 c. 27. Section 18A was inserted by section 38 of the Small Business, Enterprise and Employment Act 2015 (c. 26); see section 18A(5) for the definition of “specified”.

[^c23157311]: “Section 16(2) activities” is defined in section 18A(5) of the Companies (Audit, Investigations and Community Enterprise) Act 2004.

[^key-1671c4ef33c12f6584b9a7b226e38900]: Words in reg. 2(2) substituted (6.5.2021) by The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Reports) (Authorised Person) Order 2021 (S.I. 2021/465), arts. 1(2), 8(b) (with art. 9)

[^key-f006bcd888c147e16cd8c5298be8cd94]: Reg. 2(1)(b) and word omitted (6.5.2021) by virtue of The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Reports) (Authorised Person) Order 2021 (S.I. 2021/465), arts. 1(2), 8(a)(i) (with art. 9)

[^key-0fae38d714aa4c787a3b0710ae040d6e]: Words in reg. 2(1) substituted (6.5.2021) by The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Reports) (Authorised Person) Order 2021 (S.I. 2021/465), arts. 1(2), 8(a)(ii) (with art. 9)

[^key-bbe197faadf9cca178905138f42c6718]: Reg. 2(3) omitted (6.5.2021) by virtue of The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Reports) (Authorised Person) Order 2021 (S.I. 2021/465), arts. 1(2), 8(c) (with art. 9)