Companies Act 2014

1376.

Application of sections 290(7)(b), 293 and 362 to a traded company

1376. (1) Section 290 (7) shall apply to a traded company as if the following paragraph were substituted for paragraph (b):

“(b) the company ceases to be a company with securities admitted to trading on a regulated market in an EEA state; or”.

(2) In a case where a traded company has, at the end of its financial year, securities of it admitted to trading on a regulated market in an EEA state section 293 shall apply to it as if—

(a) the following subsection were substituted for subsection (3):

“(3) A company that is required to prepare group financial statements shall prepare the statements in accordance with international financial reporting standards and section 295 .”;

(b) the following subsection were substituted for subsection (4):

“(4) Group financial statements prepared in accordance with international financial reporting standards and section 295 shall be known, and are in this Act referred to, as ‘IFRS group financial statements’.”;

and

(c) subsections (5) to (8) were omitted.

(3) F496 [ Section 362 ] shall apply to a designated activity company and a company limited by guarantee as if the cases specified in that section in which the audit exemption, as referred to in section 358 or 359 , as the case may be, is not available to a company, or a holding company and its subsidiary undertakings, included a case in which the company or holding company, as appropriate, is a traded company.

Annotations

Amendments:

F496

Substituted (9.06.2017) by Companies (Accounting) Act 2017 (9/2017), s. 84, S.I. No. 246 of 2017, art. 3, subject to transitional provision in art. 4.