# The Statutory Harbour Undertakings (Accounts etc.) Regulations 1983, Regulation 2: Cases in which provisions of Companies Acts 1948 to 1981 as respects accounts and reports are not to apply


(1) The provisions of the Companies Act 1948 to 1981 referred to in section 42(6) of the Harbours Act 1964 shall not apply in the case of a person who carries on a statutory harbour undertaking in relation to a financial year of the undertaking in which the annual turnover of the undertaking—
(a) is less than £250,000—
(i) if the financial year is the first financial year of the undertaking after the date upon which the person who carries on the undertaking began to carry it on; or
(ii) if the turnover of the undertaking in either of the last two preceding financial years was less than that amount; or
(b) is £250,000 or more if the turnover of the undertaking in the last preceding financial year was less than that amount.
(2) In this regulation “financial year” means in relation to a statutory harbour undertaking, the year for which the annual accounts of the undertaking are normally made up but includes a period which is greater or less than a year for which the accounts of a statutory harbour undertaking are made up being—
(a) a transitional period incidental to a change in the year for which the annual accounts of the undertaking are normally made up;
(b) the first period for which the accounts of the undertaking are made up after the date when the person who carries on the undertaking begins to carry it on; or
(c) the last period for which the accounts of the undertaking are made up before the date when the person who carries on the undertaking ceases to carry it on.

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Source: https://www.legislation.gov.uk/uksi/1983/931/regulation/2 (the official version)
Page: https://openlegislation.uk/statutory-harbour-undertakings-accounts-etc-regulations-1983/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.