Statutory Instrument 1995 No. 1163

The Companies Act 1989 Part II (Consequential Amendments) Regulations 1995

---

© Crown Copyright 1995

Statutory Instruments printed from this website are printed under the superintendence and authority of the Controller of HMSO being the Queen's Printer of Acts of Parliament.

The legislation contained on this web site is subject to Crown Copyright protection. It may be reproduced free of charge provided that it is reproduced accurately and that the source and copyright status of the material is made evident to users.

It should be noted that the right to reproduce the text of Statutory Instruments does not extend to the Queen's Printer imprints which should be removed from any copies of the Statutory Instrument which are issued or made available to the public. This includes reproduction of the Statutory Instrument on the Internet and on intranet sites. The Royal Arms may be reproduced only where they are an integral part of the original document.

The text of this Internet version of the Statutory Instrument which is published by the Queen's Printer of Acts of Parliament has been prepared to reflect the text as it was Made. A print version is also available and is published by The Stationery Office Limited as the The Companies Act 1989 Part II (Consequential Amendments) Regulations 1995, ISBN 0110529359. The print version may be purchased by clicking here. Braille copies of this Statutory Instrument can also be purchased at the same price as the print edition by contacting TSO Customer Services on 0870 600 5522 or e-mail:customer.services@tso.co.uk.

Further information about the publication of legislation on this website can be found by referring to the Frequently Asked Questions.

To ensure fast access over slow connections, large documents have been segmented into "chunks". Where you see a "continue" button at the bottom of the page of text, this indicates that there is another chunk of text available.

1995 No. 1163

COMPANIES

The Companies Act 1989 Part II (Consequential Amendments) Regulations 1995

The Secretary of State, in exercise of his powers under section 50 of the Companies Act 1989^[1], hereby makes the following Regulations:

Citation and commencement
    1.    These Regulations may be cited as the Companies Act 1989 Part II (Consequential Amendments) Regulations 1995 and shall come into force on 23rd May 1995.

Consequential amendments
    2.    In section 717 of the Companies Act 1985^[2] (limited partnerships: limit on number of members), in subsection (1)(b) the words "section 25" are substituted for the words "section 5".

    3.    In section 184 of the Income and Corporation Taxes Act 1988^[3] (independent accountants), subsection (6) is repealed.

    4.    In the Companies Act 1989 (Eligibility for Appointment as Company Auditor) (Consequential Amendments) Regulations 1991^[4], sub-paragraph (2) of paragraph 21 of the Schedule is revoked.

Jonathan Evans

Parliamentary Under Secretary of State for Corporate Affairs
Department of Trade and Industry

27th April 1995

Regulation 2 amends section 717 of the Companies Act 1985 (1985 c. 6) which, as a result of an error in paragraph 53 of the Schedule to the Companies Act 1989 (Eligibility for Appointment as Company Auditor) (Consequential Amendments) Regulations 1991 (S.I. 1991/1997), mistakenly refers to section 5 of the Companies Act 1989 (1989 c. 40) instead of to section 25 of that Act (eligibility for appointment as a company auditor).

Regulation 3 repeals subsection (6) of section 184 of the Income and Corporation Taxes Act 1988 (1988 c. 1) ("section 184") which provides that for the purposes of Chapter III of Part V of that Act (profit-related pay), "independent accountant", in relation to a profit-related pay scheme, includes a Scottish firm of which all the partners are independent accountants in relation to the scheme. By virtue of an amendment made to subsection (1) of section 184 by paragraph 68 of S.I. 1991/1997, "independent accountant", in relation to a profit-related pay scheme, is defined as a person who is eligible for appointment as a company auditor. One of the effects of Part II of the Companies Act 1989 is that a Scottish firm may be eligible for appointment as a company auditor even if all the partners in the firm are not individually eligible. Subsection (6) of section 184 is accordingly no longer appropriate, as it has the effect that a Scottish firm may be appointed as an independent accountant to a profit-related pay scheme only if all the partners in the firm are eligible for appointment as a company auditor.

Regulation 4 revokes paragraph 21(2) of the Schedule to S.I. 1991/1997 in order to reflect the fact that section 14(2) of the Transport Act 1968 (1968 c. 73) referred to in that paragraph was repealed by the Local Government Finance Act 1982 (1982 c. 32).

[1] 1989 c. 40. back

[2] 1985 c. 6. Section 717(1)(b) has been amended by paragraph 53 of the Schedule to the Companies Act 1989 (Eligibility for Appointment as Company Auditor) (Consequential Amendments) Regulations 1991 (S.I. 1991/1997). back

[3] 1988 c. 1. Section 184 of the Income and Corporation Taxes Act 1988 has been amended by paragraph 68 of the Schedule to the Companies Act 1989 (Eligibility for Appointment as Company Auditor) (Consequential Amendments) Regulations 1991 (S.I. 1991/1997). back

[4] S.I. 1991/1997. back