Companies Act 2014

378.

Application of this Chapter in cases where audit exemption available, etc.

378. Where, based on the revised financial statements prepared under section 366 , a company—

(a) is entitled to, and avails itself of, the audit exemption in respect of the financial year concerned, or

(b) would have been entitled, but for the time that it takes to complete the preparation of those revised statements resulting in the directors not being able to make a decision in accordance with section 358(1) or (2) or section 365(1) (as the case may be) in that regard, to avail itself of the audit exemption in respect of that year,

this Chapter shall have effect as if any reference in it to a statutory auditors’ report, or to the making of such a report, were omitted.

Annotations

Modifications (not altering text):

C95

Application of section restricted (24.06.2015) by European Union (Credit Institutions: Financial Statements) Regulations 2015 (S.I. No. 266 of 2015), reg. 8, in effect as per reg. 1(2).

Non-application of certain provisions of Principal Act to credit institutions

8. ...

(2) In addition to what is provided by paragraph (1) each provision of the Principal Act specified in the Table to this Regulation, in so far as it is not already disapplied by that Act to such an institution, shall not apply to a credit institution.

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Table

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Section 378 (Application of this Chapter in cases where audit exemption available, etc.)

C96

Application of section restricted (17.06.2015) by European Union (Insurance Undertakings: Financial Statements) Regulations 2015 (S.I. No. 262 of 2015), reg. 6, in effect as per reg. 1(2).

Non-application of certain provisions of Principal Act to insurance undertakings

6. ...

(2) In addition to what is provided by paragraph (1), each provision of the Principal Act specified in the Table to this Regulation, in so far as it is not already disapplied by that Act to such an undertaking, shall not apply to an insurance undertaking.

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Table

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Section 378 (Application of this Chapter in cases where audit exemption available, etc.)