Statutory Instruments
2008 No. 651
Companies
The Accounting Standards (Prescribed Body) Regulations 2008
Made
5th March 2008
Coming into force
6th April 2008
The Secretary of State makes the following Regulations in exercise of the powers conferred by section 464(1) and (3) of the Companies Act 2006( 1 ):
Citation and commencement
1. These Regulations may be cited as the Accounting Standards (Prescribed Body) Regulations 2008 and come into force on 6th April 2008.
Prescribed body
2. The body known as the Accounting Standards Board established under the articles of association of The Financial Reporting Council Limited( 2 ) is hereby prescribed for the purposes of section 464 of the Companies Act 2006.
Revocation
3. The Accounting Standards (Prescribed Body) Regulations (Northern Ireland) 1990( 3 ) and the Accounting Standards (Prescribed Body) Regulations 2005( 4 ) are hereby revoked.
Transitional Provision
4. Statements of standard accounting practice which immediately before 6th April 2008 have been issued and not withdrawn by the former body known as the Accounting Standards Board for the purposes of section 256 of the Companies Act 1985( 5 ) or Article 264 of the Companies (Northern Ireland) Order 1986( 6 )shall be treated on and after that date as statements of standard accounting practice issued by the Accounting Standards Board for the purposes of section 464 of the Companies Act 2006.
Gareth Thomas
Parliamentary Under Secretary of State for Trade and Consumer Affairs,
Department for Business, Enterprise and Regulatory Reform
5th March 2008
Registered number 02486368.
S.R. 1990/338 .
1985 c.6 .
S.I. 1986/1032 (N.I. 6) .