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The Small Business, Enterprise and Employment Act 2015 (Commencement No. 5 and Saving Provision) Regulations 2016

S.I. 2016/532 · Made 25 April 2016

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Auditors

Companies

Enterprise, England And Wales

Made 25th April 2016

The Secretary of State in exercise of the powers conferred by sections 160(1), 161(1), 161(2) and 164(1) of the Small Business, Enterprise and Employment Act 2015f1 makes the following Regulations.

Annotations to the whole text

Footnotes

f1

2015 c.26.

Contents

  1. 1Citation and interpretation
  2. 2Provisions coming into force on 2nd May 2016
  3. 3Provisions coming into force on the later of 26th May 2016 or the day after the day on which the Pubs Code etc. Regulations 2016 are made
  4. 4Provision coming into force on 1st June 2016
  5. Signature
  6. Explanatory note

1Citation and interpretation

(1)

These Regulations may be cited as the Small Business, Enterprise and Employment Act 2015 (Commencement No. 5 and Saving Provision) Regulations 2016.

(2)

In these Regulations, “the Act” means the Small Business, Enterprise and Employment Act 2015.

2Provisions coming into force on 2nd May 2016

The following provisions of the Act come into force on 2nd May 2016—

(a)

section 41 (the Adjudicator) and Part 1 (the Pubs Code Adjudicator) and Part 3 (amendments of legislation) of Schedule 1;

(b)

section 63 (levy funding);

(c)

section 64 (loans by Secretary of State); and

(d)

section 65 (review of Adjudicator and guidance from Secretary of State).

3Provisions coming into force on the later of 26th May 2016 or the day after the day on which the Pubs Code etc. Regulations 2016 are made

The provisions in Part 4 of, and Schedule 1 to, the Act come into force, to the extent that they are not yet in force, on the later of—

(a)

26th May 2016; or

(b)

the day after the day on which the Pubs Code etc. Regulations 2016f1 are made.

4Provision coming into force on 1st June 2016

(1)

Section 38 of the Act (exemption from liability for bodies concerned with accounting standards etc) comes into force on 1st June 2016, to the extent that it is not yet in force.

(2)

The repeal of section 18 of the Companies (Audit, Investigations and Community Enterprise) Act 2004 (exemption from liability)f1, resulting from paragraph (1), does not affect any exemption from liability arising under that section in respect of acts or omissions occurring before 1st June 2016.

Signature

Neville-Rolfe

Parliamentary Under Secretary of State for Business, Innovation and Skills

Department for Business, Innovation and Skills

25th April 2016

Explanatory note

(This note is not part of the Regulations)

These Regulations bring into force specified provisions of the Small Business, Enterprise and Employment Act 2015 (c.26) (“the Act”). These are the fifth commencement regulations made under the Act. Certain provisions came into force on the passing of the Act.

Regulation 2 brings into force on 2nd May 2016 provisions that establish the Pubs Code Adjudicator and concern the funding of that office.

Regulation 3 brings into force all provisions in Part 4 the Act (The Pubs Code Adjudicator and the Pubs Code) that have not yet been commenced on 26th May 2016 or on the same day as the Pubs Code etc. Regulations 2016 (laid in draft on 14th April 2016) come into force, whichever is the later.

Regulation 4 brings into force on 1st June 2016 section 38 of the Act, which repeals section 18 of the Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 27) (“the CAICE Act”), and inserts new section 18A into that Act. The effect is to change the basis on which exemption from liability in damages for acts and omissions of bodies concerned with accounting standards etc. arises. Paragraph (2) contains a saving in relation to exemption from liability which has arisen under section 18 of the CAICE Act in relation to acts and omissions occurring before the repeal of that section on 1st June 2016.