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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

M1 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) F1 the Financial Reporting Council Limited, ...

F1 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

in accordance with [F2 paragraph (2) F2] .

M2 (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 [F3 subsection 2(a) to (t) of section 16 F3] (grants to bodies concerned with accounting standards etc) of the Act.

F4 (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

Status: There are currently no known outstanding effects for the The Companies (Bodies Concerned with Auditing Standards etc.) (Exemption from Liability) Regulations 2016.
The Companies (Bodies Concerned with Auditing Standards etc.) (Exemption from Liability) Regulations 2016 (2016/571)
Version from: 6 May 2021

Displaying information

Status of this instrument

in force Provision is in force
in force* In force only for specified purposes (see footnote)
not in force Not in force in England (may be in force in other geographies, see footnotes)
defined term Defined term
dfn Defined term (alternative style)
footnote commentary transitional and savings in force status related provisions geo extent insert/omit source count in force adj
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.
Defined Term Section/Article ID Scope of Application
the Act reg. 2. def_7a1f5dfc0b

Status of changes to instrument text

The list includes made instruments, both those in force and those yet to come into force. Typically, instruments that are not yet in force (hence their changes are not incorporated into the text above) are indicated by description 'not yet' in the changes made column.

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