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Companies (Audit, Investigations and Community Enterprise) Act 2004

2004 c. 27 · Enacted 28 October 2004 · Extends to United Kingdom

Not fully up to date. 2 changes made by later legislation have not yet been written into this text, which is revised to 18 November 2025.

See the changes not yet applied
ProvisionChangeMade by
s. 53-55power to apply or disapply conferredCharities Act (Northern Ireland) 2008 s. 115(2)
Sch. 2 para. 26repealedCompanies Act 2006 Sch. 16

An Act to amend the law relating to company auditors and accounts, to the provision that may be made in respect of certain liabilities incurred by a company’s officers, and to company investigations; to make provision for community interest companies; and for connected purposes.

[28th October 2004]

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

Contents

  1. Part 1: Auditors, accounts, directors' liabilities and investigations
  2. Chapter 1: Auditors
  3. Recognised supervisory bodies
  4. 1Additional requirements for recognition of supervisory bodies Repealed
  5. 2Arrangements to which additional requirements for recognition relate Repealed
  6. Delegation of Secretary of State’s functions in relation to auditors
  7. 3Delegation of functions by Secretary of State to new or existing body Repealed
  8. 4Circumstances in which Secretary of State may delegate functions to existing body Repealed
  9. 5Supplementary provisions about delegation orders Repealed
  10. Auditors' qualifications
  11. 6Approval of overseas qualifications for auditors Repealed
  12. Services provided by auditors
  13. 7Disclosure of services provided by auditors and related remuneration Repealed
  14. Chapter 2: Accounts and reports
  15. Auditing of accounts
  16. 8Auditors' rights to information Repealed
  17. 9Statement in directors' report as to disclosure of information to auditors Repealed
  18. Defective accounts
  19. 10Persons authorised to apply to court in connection with defective accounts Repealed
  20. 11Disclosure of tax information by Inland Revenue to facilitate application for declaration that accounts are defective Repealed
  21. 12Power of person authorised to require documents, information and explanations Repealed
  22. Directors' reports
  23. 13Power to specify bodies who may issue reporting standards Repealed
  24. Supervision of accounts and reports
  25. 14Supervision of periodic accounts and reports of issuers of listed securities
  26. 15Application of sections 15A to 15E
  27. 15ADisclosure of information by tax authorities
  28. 15BPower of prescribed body to require documents, information and explanations
  29. 15CRestrictions on disclosure of information obtained under compulsory powers
  30. 15DPermitted disclosure of information obtained under compulsory powers
  31. 15EPower to amend categories of permitted disclosure
  32. Bodies concerned with accounting standards etc.
  33. 16Grants to bodies concerned with accounting standards etc.
  34. 17Levy to pay expenses of bodies concerned with accounting standards etc.
  35. 18Exemption from liability Repealed
  36. 18APower to confer exemption from liability
  37. Chapter 3: Directors' liabilities
  38. ...Relaxation of prohibition on provisions protecting directors etc. from liability Repealed
  39. 20Funding of director’s expenditure on defending proceedings Repealed
  40. Chapter 4: Investigations
  41. 21Power to require documents and information
  42. 22Protection in relation to certain disclosures
  43. 23Power to enter and remain on premises
  44. 24Failure to comply with certain requirements
  45. Chapter 5: Supplementary
  46. 25Minor and consequential amendments
  47. Part 2: Community interest companies
  48. Introductory
  49. 26Community interest companies
  50. 27Regulator
  51. 28Appeal Officer
  52. 29Official Property Holder
  53. Requirements
  54. 30Cap on distributions and interest
  55. 31Distribution of assets on winding up
  56. 32Articles of association
  57. 33Names
  58. 34Community interest company reports
  59. 35Community interest test and excluded companies
  60. Becoming a community interest company
  61. 36Formation of company as a community interest company
  62. 36AFormation as community interest company: decision on eligibility
  63. 36BFormation as community interest company: implementation of decision on eligibility
  64. 37Company becoming a community interest company
  65. 37ABecoming a community interest company: application to court to cancel resolutions
  66. 37BBecoming a community interest company: notice to registrar of court application or order
  67. 37CBecoming a community interest company: application and accompanying documents
  68. 38Becoming a community interest company: decision by Regulator
  69. 38ABecoming a community interest company: implementation of decision on eligibility
  70. 39Becoming a community interest company: English charities
  71. 40Becoming a community interest company: Scottish charities
  72. 40ABecoming a community interest company: Northern Ireland charities
  73. Supervision by Regulator
  74. 41Conditions for exercise of supervisory powers
  75. 42Investigation
  76. 43Audit
  77. 44Civil proceedings
  78. 45Appointment of director
  79. 46Removal of director
  80. 47Appointment of manager
  81. 48Property
  82. 49Transfer of shares etc.
  83. 50Petition for winding up
  84. 51Dissolution and striking off
  85. Change of status
  86. 52Re-registration
  87. 53Ceasing to be a community interest company
  88. 54Ceasing to be a community interest company and becoming a charity
  89. 54ACeasing to be a community interest company and becoming a charity: application to court to cancel resolutions
  90. 54BCeasing to be a community interest company and becoming a charity: notice to registrar of court application or order
  91. 54CCeasing to be a community interest company and becoming a charity: application and accompanying documents
  92. 55Ceasing to be a community interest company and becoming a charity: decision by Regulator
  93. 55ACeasing to be a community interest company and becoming a charity : consequences of Regulator’s decision
  94. 56Becoming a registered society
  95. Supplementary
  96. 57Fees
  97. 58Extension of provisions about registrar etc. Repealed
  98. 59Information
  99. 60Offences
  100. 61Orders made by Regulator
  101. 62Regulations
  102. 63Interpretation
  103. Part 3: Supplementary
  104. 64Repeals and revocations
  105. 65Commencement etc.
  106. 66Extent
  107. 67Short title
  108. Schedule 1: New Schedule 7B to the Companies Act 1985 Repealed
  109. Paragraph Not yet in force
  110. Schedule 2: Minor and consequential amendments relating to Part 1
  111. Part 1: Amendments relating to auditors Repealed
  112. Companies Act 1989 (c. 40) Repealed
  113. 1Paragraph 1 Repealed
  114. 2Paragraph 2 Repealed
  115. 3Paragraph 3 Repealed
  116. Companies (Northern Ireland) Order 1990 (S.I. 1990/593(N.I. 5))
  117. 4Paragraph 4
  118. Part 2: Amendments relating to accounts and reports
  119. Companies Act 1985 (c. 6)
  120. 5Paragraph 5 Repealed
  121. 6Paragraph 6 Repealed
  122. 7Paragraph 7 Repealed
  123. 8Paragraph 8 Repealed
  124. 9Paragraph 9 Repealed
  125. 10Paragraph 10 Repealed
  126. Companies (Northern Ireland) Order 1986 (S.I. 1986/1032 (N.I. 6))
  127. 11Paragraph 11 Repealed
  128. 12Paragraph 12 Repealed
  129. 13Paragraph 13 Repealed
  130. 14Paragraph 14 Repealed
  131. 15Paragraph 15 Repealed
  132. Part 3: Amendments relating to investigations
  133. Companies Act 1985 (c. 6)
  134. 16Paragraph 16
  135. 17Paragraph 17
  136. 18Paragraph 18
  137. 19Paragraph 19
  138. 20Paragraph 20
  139. 21Paragraph 21
  140. 22Paragraph 22 Repealed
  141. 23Paragraph 23 Repealed
  142. 24Paragraph 24 Repealed
  143. 25Paragraph 25
  144. 26Paragraph 26
  145. Insolvency Act 1986 (c. 45)
  146. 27Paragraph 27
  147. Company Directors Disqualification Act 1986 (c. 46)
  148. 28Paragraph 28 Repealed
  149. Companies Act 1989 (c. 40)
  150. 29Paragraph 29
  151. Criminal Justice and Police Act 2001 (c. 16)
  152. 30Paragraph 30
  153. Anti-terrorism, Crime and Security Act 2001 (c. 24)
  154. 31Paragraph 31
  155. Schedule 3: Regulator of Community Interest Companies
  156. Regulator’s terms of appointment
  157. 1Paragraph 1
  158. Remuneration and pensions
  159. 2Paragraph 2
  160. Staff
  161. 3Paragraph 3
  162. 4Paragraph 4
  163. Delegation of functions
  164. 5Paragraph 5
  165. Finance
  166. 6Paragraph 6
  167. Reports and other information
  168. 7Paragraph 7
  169. Amendments
  170. 8Paragraph 8
  171. 9Paragraph 9
  172. Schedule 4: Appeal Officer for Community Interest Companies
  173. Appeal Officer’s terms of appointment
  174. 1Paragraph 1
  175. Remuneration and pensions
  176. 2Paragraph 2
  177. Finance
  178. 3Paragraph 3
  179. Procedure
  180. 4Paragraph 4
  181. Amendments
  182. 5Paragraph 5
  183. 6Paragraph 6
  184. Schedule 5: Official Property Holder for Community Interest Companies
  185. Status
  186. 1Paragraph 1
  187. Relationship with Regulator
  188. 2Paragraph 2
  189. Effect of vacancy
  190. 3Paragraph 3
  191. Property
  192. 4Paragraph 4
  193. Finance
  194. 5Paragraph 5
  195. Reports
  196. 6Paragraph 6
  197. Schedule 6: Community interest companies: names
  198. Companies Act 1985 (c. 6)
  199. 1Paragraph 1 Repealed
  200. 2Paragraph 2 Repealed
  201. 3Paragraph 3 Repealed
  202. 4Paragraph 4 Repealed
  203. 5Paragraph 5 Repealed
  204. 6Paragraph 6 Repealed
  205. 7Paragraph 7 Repealed
  206. 8Paragraph 8 Repealed
  207. 9Paragraph 9 Repealed
  208. Limited Liability Partnerships Act 2000 (c. 12)
  209. 10Paragraph 10 Repealed
  210. Schedule 7: Community interest companies: investigations
  211. Power to require documents and information
  212. 1Paragraph 1
  213. Privileged information
  214. 2Paragraph 2
  215. Use of information as evidence
  216. 3Paragraph 3
  217. Failure to comply with requirement
  218. 4Paragraph 4
  219. False information
  220. 5Paragraph 5
  221. Schedule 8Repeals and revocations