This Statutory Instrument has been made in consequence of a defect in S.I. 2023/975 and is being issued free of charge to all known recipients of that Statutory Instrument.
Statutory Instruments
2024 No. 623
COMPANIES
The Accounting Standards (Prescribed Bodies) (United States of America and Japan) (Amendment) Regulations 2024
Made
7th May 2024
Coming into force in accordance with regulation 1(2)
The Secretary of State makes these Regulations in exercise of the power conferred by section 468 of the Companies Act 2006( 1 ).
In accordance with sections 473(3) and 1290 of that Act, a draft of these Regulations has been laid before and approved by a resolution of each House of Parliament.
Citation, commencement and extent
1. —(1) These Regulations may be cited as the Accounting Standards (Prescribed Bodies) (United States of America and Japan) (Amendment) Regulations 2024.
(2) These Regulations come into force on the day after the day on which they are made.
(3) These Regulations extend to the whole of the United Kingdom.
Amendment to the Accounting Standards (Prescribed Bodies) (United States of America and Japan) Regulations 2015
2. In the Accounting Standards (Prescribed Bodies) (United States of America and Japan) Regulations 2015( 2 ), for regulation 5A substitute—
“ 5A. Where a parent company prepares group accounts to the accounting standards of a body listed in regulation 2 and the accounts are in respect of a financial year commencing on or after 1st October 2024, there must be disclosed in a note to the accounts—
(a) the date of the company’s incorporation in the UK; and
(b) the number of financial years remaining before the body will cease to be a prescribed body in relation to that company under regulation 5. ” .
Amendment to the Accounting Standards (Prescribed Bodies) (United States of America and Japan) (Amendment) Regulations 2023
3. In the Accounting Standards (Prescribed Bodies) (United States of America and Japan) (Amendment) Regulations 2023( 3 ) omit regulation 4.
Kevin Hollinrake
Minister of State for Enterprise, Markets and Small Business
Department for Business and Trade
7th May 2024