Statutory Instruments

2016 No. 571

Companies

The Companies (Bodies Concerned with Auditing Standards etc.) (Exemption from Liability) Regulations 2016

Made

10th May 2016

Laid before Parliament

10th May 2016

Coming into force

1st June 2016

The Secretary of State, in exercise of the powers conferred by section 18A(1) and (3) of the Companies (Audit, Investigations and Community Enterprise) Act 2004 , makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Companies (Bodies Concerned with Auditing Standards etc.) (Exemption from Liability) Regulations 2016, and come into force on 1st June 2016.

Exemption from liability

2. —(1) The exemption from liability in subsections (3) and (4) of section 18A (power to confer exemption from liability) of the Act applies to—

(a) the Financial Reporting Council Limited, ...

(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

in accordance with paragraph (2) .

(2) The section 16(2) activities which are specified under section 18A(3) of the Act in relation to the exemption from liability provided for under paragraph (1)(a) are the activities within subsection 2(a) to (t) of section 16 (grants to bodies concerned with accounting standards etc) of the Act.

(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) In this regulation “ the Act ” means the Companies (Audit, Investigations and Community Enterprise) Act 2004.

Neville-Rolfe

Parliamentary Under Secretary of State for Business, Innovation and Skills

Department for Business, Innovation and Skills

footnote	commentary	related provisions	insert/omit
F1	Reg. 2(1)(b) and word omitted (6.5.2021) by virtue of The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Reports) (Authorised Person) Order 2021 (S.I. 2021/465) , arts. 1(2) , 8(a)(i) (with art. 9 )	this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.	omitted
F2	Words in reg. 2(1) substituted (6.5.2021) by The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Reports) (Authorised Person) Order 2021 (S.I. 2021/465) , arts. 1(2) , 8(a)(ii) (with art. 9 )	this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.	substituted
F3	Words in reg. 2(2) substituted (6.5.2021) by The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Reports) (Authorised Person) Order 2021 (S.I. 2021/465) , arts. 1(2) , 8(b) (with art. 9 )	this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.	substituted
F4	Reg. 2(3) omitted (6.5.2021) by virtue of The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Reports) (Authorised Person) Order 2021 (S.I. 2021/465) , arts. 1(2) , 8(c) (with art. 9 )	this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.	omitted
M1	2004 c. 27 . Section 18A was inserted by section 38 of the Small Business, Enterprise and Employment Act 2015 (c. 26) ; see section 18A(5) for the definition of “specified”.
M2	“Section 16(2) activities” is defined in section 18A(5) of the Companies (Audit, Investigations and Community Enterprise) Act 2004.