{
  "url": "https://openlegislation.uk/draft-official-listing-of-securities-prospectus-and-transparency-amendment-etc-eu-exit-regulations-2019/schedule-1/paragraph-11",
  "json_url": "https://openlegislation.uk/draft-official-listing-of-securities-prospectus-and-transparency-amendment-etc-eu-exit-regulations-2019/schedule-1/paragraph-11.json",
  "legislation": "ukdsi/2019/9780111178881",
  "legislation_title": "The Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/draft-official-listing-of-securities-prospectus-and-transparency-amendment-etc-eu-exit-regulations-2019",
  "path": "schedule/1/paragraph/11",
  "kind": "paragraph",
  "number": "11",
  "heading": null,
  "text": "(1) Annex 23 is amended as follows.\n(2) In item 14—\n(a) in the first subparagraph, for the words from “If” to “do not apply” substitute “If UK-adopted international accounting standards or, in relation to financial years beginning on or before the day on which exit day falls, International Accounting Standards adopted according to Regulation (EC) No 1606/2002 as it applies in the European Union, do not apply”;\n(b) in the second subparagraph, for the words from “If” to “apply” substitute “If UK-adopted international accounting standards or, in relation to financial years beginning on or before the day on which exit day falls, International Accounting Standards adopted according to Regulation (EC) No 1606/2002 as it applies in the European Union, apply”.\n(3) In item 15.1—\n(a) in the first subparagraph, omit the final sentence;\n(b) after the first subparagraph insert—\n“In relation to a financial year beginning on or before the day on which exit day falls, such financial information must be prepared as mentioned in Article 35.\nFor an issuer established in the United Kingdom, in respect of a financial year beginning on or before the day on which exit day falls, such financial information must be prepared in accordance with—\n(a) UK-adopted international accounting standards, or\n(b) if those standards are not applicable, UK accounting standards.”\n(c) for the subparagraph beginning “For third country” substitute—\n“For an issuer established in a country outside the United Kingdom, in respect of a financial year beginning after the day on which exit day falls, such financial information must be prepared in accordance with—\n(a) UK-adopted international accounting standards,\n(b) one of the accounting standards referred to in Article 35(5), or\n(c) national accounting standards of that country that are equivalent to UK-adopted international accounting standards.\nFor an issuer established in a country outside the United Kingdom, if such financial information is not prepared according to the required standards, it must be presented in the form of restated financial statements.”;\n(d) in the subparagraph beginning “If the issuer has been operating”, for the words from “the standards applicable” to the end of the second sentence substitute “the standards that would apply under the second, third or fourth subparagraph to an annual financial statement in respect of a financial year beginning at the time when that period began.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2019/9780111178881/schedule/1/paragraph/11",
    "retrieved_at": "2026-10-30T15:01:38.917936+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}