These Regulations amend the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993 (S.I. 1993/3245) (“the 1993 Regulations”).The 1993 Regulations implemented Council Directive 91/674/EEC of 19th December 1991 on the annual and consolidated accounts of insurance undertakings (Official Journal No. L 374/7 of 31st December 1991) in so far as it applies to bodies corporate or unincorporate other than (a) bodies corporate to which Part 7 of the Companies Act 1985 (“the 1985 Act”) applies and (b) friendly societies.