Regulation 22 Exemption from audit: qualifying subsidiaries

(1)

Regulation 34A^f1 (exemption from audit: qualifying subsidiaries) is amended as follows.

(2)

In section 479A(2)(c) (subsidiary LLPs: conditions for exemption from audit), for sub-paragraph (i) substitute—

“(i)
the provisions of Directive 2013/34/EU of 26 June 2013 on the annual financial statements etc. of certain types of undertakings, or”.

(3)

In section 479B (LLPs excluded from the subsidiary audit exemption), before paragraph (a) insert—

“(za)
a traded LLP as defined in section 474(1),”.

Annotations

f1: Regulation 34A was inserted by S.I. 2012/2301, regulation 20(1) and (4).