Regulation 8 Minor and consequential amendments

(1)

In paragraph (9) of Article 254 (special provisions for small companies)^f1, for the words from “the company” to the end, substitute “the directors of the company have taken advantage of the exemption from audit conferred by Article 257AA (dormant companies)”.

(2)

In paragraph (1) of Article 255B (special auditors' report)^f2—

(a)

in sub-paragraph (b), after “Article 257A(1) or (2)” insert “or Article 257AA”,

(b)

omit “and” at the end of sub-paragraph (b), and

(c)

omit sub-paragraph (c).

(3)

In paragraph (3) of Article 257C (the report required for the purposes of Article 257A(2))^f3, omit from “(or, where the company is a charity,” to “that Article)”.

(4)

In paragraph (1) of Article 257E (effect of audit exemptions)^f4, after “Article 257A(1)” insert “or 257AA(1)”.

(5)

After paragraph (1) of Article 257E insert—

“(1A)

Where the directors of a company have taken advantage of the exemption conferred by Article 257AA, then for the purposes of that Article the company shall be treated as a company entitled to prepare accounts in accordance with Article 254 even though it is a member of an ineligible group.”.

(6)

Article 258 (resolution not to appoint auditors)^f5 is hereby repealed.

(7)

In paragraph 4(a) of Article 297 (particulars of directors to be registered under Article 296)^f6, for “Article 258(3)” substitute “Article 257AA(4)”.

(8)

In paragraph (2) of Article 394 (election by private company to dispense with annual appointment of auditors)^f7, for paragraph (a) substitute—

“(a)

the directors of the company have taken advantage of the exemption conferred by Article 257A or 257AA, or”.

(9)

In paragraph (1) of Article 396A (certain companies exempt from obligation to appoint auditors)^f8 for “Article 258” substitute “Article 257AA”.

(10)

In paragraph 2(2)(a) of Schedule 1 (particulars of directors etc to be contained in statement under Article 21)^f9, for “Article 258(3)” substitute “Article 257AA(4)”.

Annotations

Footnotes

f1: Article 254 was inserted into the 1986 Order by Article 15 of the Companies (Northern Ireland) Order 1990 in place of an existing Article of that number. It was consequently substituted by regulation 2 of S.R. 1997 No. 436 and amended by regulation 6(1) of S.R. 1997 No. 545
f2: Article 255B was inserted into the 1986 Order by regulation 5 of S.R. 1997 No. 436
f3: Article 257C was inserted into the 1986 Order by regulation 2 of S.R. 1995 No. 128 and amended by regulation 7 of S.R. 1997 No. 436
f4: Article 257E was inserted into the 1986 Order by regulation 2 of S.R. 1995 No. 128
f5: Article 258 was inserted into the 1986 Order by Article 16 of the Companies (Northern Ireland) Order 1990 in place of an existing Article of that number, and amended by regulation 2 of S.R. 1993 No. 220, regulation 10 of S.R. 1997 No. 314, and regulation 7(4) of S.R. 1997 No. 436
f6: Article 297 was amended by Article 25 of, and paragraph 11 of Schedule 10 to, the Companies (Northern Ireland) Order 1990 and by Article 78 of, and paragraph 2 of Schedule 5 to the Companies (No. 2) (Northern Ireland) Order 1990 (S.I. 1990/1504) (N.I. 10))
f7: Article 394 was inserted into the 1986 Order by Articles 53 and 54(1) of the Companies (No. 2) (Northern Ireland) Order 1990 in place of an existing Article of that number
f8: Article 396A was inserted into the 1986 Order by Articles 53 and 54(1) of the Companies (No. 2) (Northern Ireland) Order 1990, and subsequently substituted by Regulation 3 of S.R. 1995 No. 128
f9: Paragraph 2 of Schedule 1 to the 1986 Order was amended by Article 25 of, and paragraph 20 of Schedule 10 to, the Companies (Northern Ireland) Order 1990