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The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020

Sections36
2020 No. 523

Exiting The European Union

Companies

Auditors

Fees And Charges

Limited Liability Partnerships

Partnership

The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020

Made18th May 2020
Laid before Parliament21st May 2020
Coming into force in accordance with regulation 1(2)
The Secretary of State makes these Regulations in exercise of the powers conferred by section 41(1) of the European Union (Withdrawal Agreement) Act 2020 M1.

PART 1 

I11 Citation and commencement

1 These Regulations may be cited as the Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020.
2 These Regulations come into force immediately before IP completion day, except for this Part and Part 8 which come into force immediately before regulation 6 of the Statutory Auditors, Third Country Auditors and International Accounting Standards (Amendment) (EU Exit) Regulations 2019 M2 comes into force.

PART 2 Amendments to the European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018

I22 

The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 M3 are amended in accordance with this Part.

I33 

In Part 2—
a in regulation 4(a), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
b in regulation 8, in inserted regulation 12A—
i in paragraph (1)—
aa in the opening words, for “exit day” substitute “ IP completion day ”;
bb in sub-paragraph (a), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
cc in sub-paragraph (b), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
ii in paragraph (2), for “exit day” substitute “ IP completion day ”;
iii in paragraph (3), for “exit day” substitute “ IP completion day ”;
iv in paragraph (4), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
v in paragraph (6), for “exit day” substitute “ IP completion day ”;
c in regulation 24(a), for “exit day” substitute “ IP completion day ”;
d in regulation 36(b)(i), for “exit day” substitute “ IP completion day ”;
e in regulation 49—
i in paragraph (a)—
aa in sub-paragraph (ii), for “exit day”, in each of the three places where it appears, substitute “ IP completion day ”;
bb in sub-paragraph (viii), for “exit day” substitute “ IP completion day ”;
cc in sub-paragraph (x), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
ii in paragraph (c), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
f in regulation 56(b), for “exit day” substitute “ IP completion day ”;
g in regulation 64(a)(iii), for “exit day” substitute “ IP completion day ”;
h in regulation 67—
i in paragraph (a)—
aa in sub-paragraph (ii), for “exit day”, in each of the three places where it appears, substitute “ IP completion day ”;
bb in sub-paragraph (viii), for “exit day” substitute “ IP completion day ”;
cc in sub-paragraph (x), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
ii in paragraph (c), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
i in regulation 74(b), for “exit day” substitute “ IP completion day ”;
j in regulation 81(a)(iii), for “exit day” substitute “ IP completion day ”;
k in regulation 84(c), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
l in regulation 88—
i in paragraph (a), for “exit day” substitute “ IP completion day ”;
ii in paragraph (b), for “exit day” substitute “ IP completion day ”;
m in regulation 95(b), for “exit day” substitute “ IP completion day ”.

I44 

In Part 3—
a in regulation 97—
i in inserted Article A1, in the definition of “SE”, for “exit day” substitute “ IP completion day ”;
ii in inserted Article AA1—
aa in paragraph 1, for “exit day”, in each of the three places where it appears, substitute “ IP completion day ”;
bb in the opening words of paragraph 2, for “exit day” substitute “ IP completion day ”;
cc in paragraph 5, for “exit day”, in each of the three places where it appears, substitute “ IP completion day ”;
b in regulation 106(c)(ii), for “exit day” substitute “ IP completion day ”.

I55 

In Part 4—
a in regulation 140, for “exit day”, in both places where it appears, substitute “ IP completion day ”;
b in regulation 141, for “exit day”, in both places where it appears, substitute “ IP completion day ”;
c in regulation 142—
i in paragraph (1), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
ii in paragraph (2), for “exit day”, in each of the three places where it appears, substitute “ IP completion day ”;
d in regulation 143—
i in paragraph (1), for “exit day” substitute “ IP completion day ”;
ii in paragraph (2), for “exit day” substitute “ IP completion day ”;
e in regulation 144, for “exit day”, in each of the three places where it appears, substitute “ IP completion day ”;
f in regulation 145, for “exit day”, in both places where it appears, substitute “ IP completion day ”;
g in regulation 146(1)—
i in the opening words, for “exit day” substitute “ IP completion day ”;
ii in paragraph (a), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
iii in paragraph (b), for “exit day” substitute “ IP completion day ”;
iv in paragraph (c), for “exit day” substitute “ IP completion day ”;
h in regulation 147, for “exit day”, in both places where it appears, substitute “ IP completion day ”;
i in regulation 148, for “exit day” substitute “ IP completion day ”;
j in regulation 149(c)—
i in sub-paragraph (iv), for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (v), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
k in regulation 153(1)—
i in the opening words, for “exit day” substitute “ IP completion day ”;
ii in paragraph (a), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
iii in paragraph (b), for “exit day” substitute “ IP completion day ”;
iv in paragraph (c), for “exit day” substitute “ IP completion day ”;
l in regulation 154, for “exit day”, in both places where it appears, substitute “ IP completion day ”;
m in regulation 155, for “exit day” substitute “ IP completion day ”;
n in regulation 156(c)—
i in sub-paragraph (iii)(aa), for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (iv), for “exit day”, in both places where it appears, substitute “ IP completion day ”.

PART 3 Amendments to the European Economic Interest Grouping (Amendment) (EU Exit) Regulations 2018

I66 

The European Economic Interest Grouping (Amendment) (EU Exit) Regulations 2018 M4 are amended in accordance with this Part.

I77 

In Part 2, in regulation 9, in substituted regulation 9—
a in paragraph (1), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
b in paragraph (2), for “exit day” substitute “ IP completion day ”;
c in paragraph (3), for “exit day” substitute “ IP completion day ”;
d in paragraph (4)(b), for “exit day” substitute “ IP completion day ”;
e in paragraph (6), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
f in paragraph (7), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
g in paragraph (9), for “exit day” substitute “ IP completion day ”.

I88 

In Part 3—
a in regulation 33, in substituted Article 1—
i in paragraph 1, for “exit day”, in each of the three places where it appears, substitute “ IP completion day ”;
ii in paragraph 2(b), for “exit day” substitute “ IP completion day ”;
iii in paragraph 4, for “exit day”, in both places where it appears, substitute “ IP completion day ”;
iv in paragraph 5, for “exit day” substitute “ IP completion day ”;
b in regulation 34, in paragraph 3(b) of inserted Article 1A, for “exit day” substitute “ IP completion day ”;
c in regulation 38(c), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
d in regulation 46, in paragraph 2 of substituted Article 13, for “ exit day ” substitute “IP completion day”.

PART 4 Amendments to the Accounts and Reports (Amendment) (EU Exit) Regulations 2019

I99 

The Accounts and Reports (Amendment) (EU Exit) Regulations 2019 M5 are amended in accordance with this Part.

I1010 

In regulation 1(2)(b), for “exit day” substitute “ IP completion day ”.

I1111 

In regulation 7—
a in paragraph (1), for “exit day” substitute “ IP completion day ”;
b in paragraph (3), for “exit day” substitute “ IP completion day ”.

I1212 

In Schedule 3—
a in paragraph 31(b), for “exit day” substitute “ IP completion day ”;
b in paragraph 37, in paragraph (1) of inserted regulation 12ZA, for “exit day” substitute “ IP completion day ”.

PART 5 Amendments to the Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019

I1313 

The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 M6 are amended in accordance with this Part.

I1414 

In Part 2—
a in regulation 5(c), for “exit day” substitute “ IP completion day ”;
b in regulation 6—
i in paragraph (a), in paragraph (a) of the substituted definition of “ audit committee ”, for “exit day” substitute “ IP completion day ”;
ii in paragraph (c)(iii), for “exit day” substitute “ IP completion day ”;
c in regulation 8(a)(iii), for “exit day” substitute “ IP completion day ”;
d in regulation 11(b)(ii), for “exit day” substitute “ IP completion day ”;
e in regulation 28 M7—
i before paragraph (a), insert—
;
ii for paragraph (a), substitute—
;
iii after paragraph (d), insert—
;
iv omit paragraph (e);
f for regulation 29, substitute—
;
g in regulation 30(b), for “exit day” substitute “ IP completion day ”;
h in regulation 32(d)(iii), for “exit day” substitute “ IP completion day ”;
i in regulation 38, for “exit day” substitute “ IP completion day ”;
j in regulation 40, for “exit day” substitute “ IP completion day ”.

I1515 

In Part 3—
a in regulation 51—
i in paragraph (a)(ii), for “exit day” substitute “ IP completion day ”;
ii in paragraph (b)(i), for “exit day” substitute “ IP completion day ”;
b in regulation 61(c)(ii), for “exit day” substitute “ IP completion day ”;
c in regulation 66(d)(iii), for “exit day” substitute “ IP completion day ”;
d in regulation 68(a), for “exit day” substitute “ IP completion day ”;
e in regulation 70(a), for “exit day” substitute “ IP completion day ”;
f in regulation 71(d)(i), for “exit day” substitute “ IP completion day ”.

I1616 

In Part 4, in regulation 100(f), for “exit day” substitute “ IP completion day ”.

I1717 

In Schedule 1—
a in paragraph 1(1), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
F1b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

I1818 

In Schedule 2, in paragraph 1(1), for “exit day”, in both places where it appears, substitute “ IP completion day ”.

I1919 

In Schedule 4—
a in the opening words of paragraph 1 M8, for “exit day” substitute “ IP completion day ”;
b in paragraph 2—
i in the opening words, for “exit day”, substitute “ IP completion day ”;
ii in sub-paragraph (a), for “exit day”, substitute “ IP completion day ”;
c in paragraph 3, for “exit day” substitute “ IP completion day ”.

PART 6 Amendments to the Companies, Limited Liability Partnerships and Partnerships (Amendment etc.) (EU Exit) Regulations 2019

I2020 

Schedule 4 of the Companies, Limited Liability Partnerships and Partnerships (Amendment etc.) (EU Exit) Regulations 2019 M9 is amended as follows—
a in paragraph 1—
i in the opening words, for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (a), for “exit day” substitute “ IP completion day ”;
iii in sub-paragraph (b), for “exit day” substitute “ IP completion day ”;
b in paragraph 2—
i in sub-paragraph (1), for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (2), for “exit day” substitute “ IP completion day ”;
iii in sub-paragraph (3), for “exit day” substitute “ IP completion day ”;
iv in sub-paragraph (4), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
c in paragraph 3—
i in sub-paragraph (1), for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (2), for “exit day” substitute “ IP completion day ”;
d in paragraph 4—
i in sub-paragraph (1), for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (2), for “exit day” substitute “ IP completion day ”;
iii in sub-paragraph (4), for “exit day” substitute “ IP completion day ”;
iv in sub-paragraph (5), for “exit day” substitute “ IP completion day ”;
e in paragraph 5—
i in sub-paragraph (1), for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (2), for “exit day”, in both places where it appears, substitute “ IP completion day ”.

PART 7 Amendments to the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019

I2121 

The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 M10 are amended in accordance with this Part.

I2222 

In Part 1, in regulation 1—
a in paragraph (3), for “exit day” substitute “ IP completion day ”;
b in paragraph (4), for “exit day” substitute “ IP completion day ”.

I2323 

In Part 2—
a in the heading to Chapter 2, for “exit day” substitute “ IP completion day ”;
b in regulation 4, for “exit day”, in the heading and the two other places where it appears, substitute “ IP completion day ”;
c in regulation 20(2), for “exit day” substitute “ IP completion day ”.

I2424 

In regulation 23(d), for “exit day” substitute “ IP completion day ”.

I2525 

In Schedule 1—
a in paragraph 63(2) M11, in substituted point (3)(a) of Article 3—
i in point (i), for “exit day” substitute “ IP completion day ”;
ii in point (iii), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
b in paragraph 64—
i in sub-paragraph (2), for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (4), for “exit day” substitute “ IP completion day ”;
iii in sub-paragraph (5), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
c in paragraph 65—
i in sub-paragraph (2), for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (4) for “exit day” substitute “ IP completion day ”;
iii in sub-paragraph (5)(c), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
d in paragraph 66—
i in sub-paragraph (2), for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (4), for “exit day” substitute “ IP completion day ”;
iii in sub-paragraph (5), for “exit day”, in both places where it appears, substitute “ IP completion day ”;
e in paragraph 67—
i in sub-paragraph (2), for “exit day” substitute “ IP completion day ”;
ii in sub-paragraph (4), for “exit day” substitute “ IP completion day ”;
iii in sub-paragraph (5), for “exit day”, in both places where it appears, substitute “ IP completion day ”.

I2626 

In Schedule 3—
a in paragraph 2, for “exit day” substitute “ IP completion day ”;
b in paragraph 11—
i in sub-paragraph (1), for “exit day”, in each of the three places where it appears, substitute “ IP completion day ”;
ii in sub-paragraph (3)(b), for “exit day” substitute “ IP completion day ”;
c in paragraph 15, in paragraph (1) of inserted regulation 152A, for “exit day” substitute “ IP completion day ”;
d in paragraph 17, in paragraph (1) of inserted regulation 159A, for “exit day” substitute “ IP completion day ”.

PART 8 Amendments to the Statutory Auditors, Third Country Auditors and International Accounting Standards (Amendment) (EU Exit) Regulations 2019

I2727 

Regulation 6 of the Statutory Auditors, Third Country Auditors and International Accounting Standards (Amendment) (EU Exit) Regulations 2019 is amended as follows—
a after the words “the individual” insert “ is an EEA auditor who ”;
b for “31 December 2020”, in both places where it appears, substitute “ IP completion day ”.

Footnotes

  1. M1
    2020 c. 1.
  2. M2
    S.I. 2019/1392.
  3. M3
    S.I. 2018/1298. This instrument is amended by S.I. 2019/685.
  4. M4
    S.I. 2018/1299.
  5. M5
    S.I. 2019/145. This instrument is amended by S.I. 2019/685, 2019/1392.
  6. M6
    S.I. 2019/177. This instrument is amended by S.I. 2019/1392, 2020/108, 2020/335.
  7. M7
    Regulation 28 is amended by S.I. 2019/1392 (as further amended by regulation 29 of this instrument) and 2020/335.
  8. M8
    Paragraph 1 of Schedule 4 is amended by S.I. 2020/108.
  9. M9
    S.I. 2019/348.
  10. M10
    S.I. 2019/685. This instrument is amended by S.I. 2019/1392 and 2020/335.
  11. M11
    Paragraph 63 is amended by S.I. 2019/1416.
  12. I1
    Reg. 1 in force at 31.12.2020 immediately before S.I. 2019/1392, reg. 6 comes into force, see reg. 1(2)
  13. I2
    Reg. 2 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  14. I3
    Reg. 3 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  15. I4
    Reg. 4 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  16. I5
    Reg. 5 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  17. I6
    Reg. 6 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  18. I7
    Reg. 7 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  19. I8
    Reg. 8 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  20. I9
    Reg. 9 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  21. I10
    Reg. 10 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  22. I11
    Reg. 11 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  23. I12
    Reg. 12 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  24. I13
    Reg. 13 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  25. I14
    Reg. 14 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  26. I15
    Reg. 15 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  27. I16
    Reg. 16 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  28. I17
    Reg. 17 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  29. I18
    Reg. 18 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  30. I19
    Reg. 19 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  31. I20
    Reg. 20 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  32. I21
    Reg. 21 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  33. I22
    Reg. 22 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  34. I23
    Reg. 23 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  35. I24
    Reg. 24 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  36. I25
    Reg. 25 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  37. I26
    Reg. 26 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
  38. I27
    Reg. 27 in force at 31.12.2020 immediately before S.I. 2019/1392, reg. 6 comes into force, see reg. 1(2)
  39. F1
    Reg. 17(b) omitted (31.12.2020 immediately before reg. 17 comes into force) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) (No. 2) Regulations 2020 (S.I. 2020/1247), regs. 1(2)(b), 4(2)