Introductory text

Draft Regulations laid before Parliament under section 18A(8) of the Companies (Audit, Investigations and Community Enterprise) Act 2004 and regulation 13(8) of the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019, for approval by resolution of each House of Parliament.

Exiting The European Union

Companies

Made ***

Coming into force ***

The Secretary of State makes the following Regulations in exercise of the powers conferred by section 18A(1) and (3) of the Companies (Audit, Investigations and Community Enterprise) Act 2004 (“the 2004 Act”)^f1 and regulations 13(1) and (4) and 14(4) of the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (“the principal Regulations”)^f2.

It appears to the Secretary of State that—

(a)

the UK Endorsement Board is able and willing to exercise the functions transferred by regulation 2 of these Regulations, and

(b)

that body has arrangements in place relating to the exercise of those functions which are such as to be likely to ensure that—

(i)

those functions will be exercised effectively, and

(ii)

in accordance with the requirements and provisions relating to the exercise of those functions specified in regulation 3 of these Regulations.

In accordance with section 18A(8) of the 2004 Act and regulation 13(8) of the principal Regulations, a draft of these Regulations was laid before Parliament and approved by a resolution of each House of Parliament.

Annotations

Footnotes

f1: 2004 c. 27. Section 18A was inserted by section 38 of the Small Business, Enterprise and Employment Act 2015 (c. 26).
f2: S.I. 2019/685. This instrument is amended by S.I. 2019/1392, 2020/335 and 2020/523.