Paragraph 13

in the first subparagraph, for the words from “according to” to “Union” substitute “in accordance with the required accounting standards”;

after the first subparagraph insert—

“For issuers established in the United Kingdom, the required accounting standards are—

(a)

in relation to financial years beginning on or before the day on which exit day falls, the standards required by Article 35, and

(b)

in relation to financial years beginning after the day on which exit day falls, UK-adopted international accounting standards, or if not applicable, UK accounting standards.”;

in the subparagraph beginning “For third country”, for the words from the beginning to “these standards,” substitute “For issuers established in a country outside the United Kingdom, a statement that such financial information has been prepared and audited in accordance with the required accounting standards,”;

at the end insert—

“For issuers established in a country outside the United Kingdom, the required accounting standards are—

(a)

in relation to financial years beginning on or before the day on which exit day falls, the standards required by Article 35, and

(b)

in relation to financial years beginning after the day on which exit day falls, UK-adopted international accounting standards, the standards referred to in Article 35(5) or that country’s national accounting standards that are equivalent to UK-adopted international accounting standards.”.