§ 39 Page 33, line 6, leave out 'Part I of'.
40 Page 33, line 8, leave out subsections (3) to (5) and insert —
'(3) In the Schedule—
Part I contains amendments relating to the form and content of accounts of banking and insurance companies and groups,
Part II contains provisions with respect to the group accounts of banking and insurance groups,
Part III contains provisions adapting the requirements of Schedule 5 to the Companies Act 1985 (additional disclosure: related undertakings), and
Part IV contains provisions relating to the requirements of Schedule 6 to that Act (additional disclosure: emoluments and other benefits of directors and others)'
(4) Schedule (Directors' report where accounts prepared in accordance with special provisions for banking and insurance companies and groups) to this Act (directors' report where accounts prepared in accordance with special provisions for banking and insurance companies and groups) is substituted for Schedule 10 to the Companies Act 1985.'.
§ 41 After Clause 17 Under the heading 'Supplementary provisions' in page 33, line 17, insert the following Clause —
§ Accounting standards. 1985 c.6.
§ "CHAPTER III
§ SUPPLEMENTARY PROVISIONS
§ Accounting standards
§ 255E. —(1) In this Part "accounting standards" means statements of standard accounting practice issued by such body or bodies as may be prescribed by regulations.
§ (2) References in this Part to accounting standards applicable to a company's annual accounts are to such standards as are, in accordance with their terms, relevant to the company's circumstances with—
- (a) issuing accounting standards,
- (b) overseeing and directing the issuing of such standards, or
- (c) investigating departures from such standards or from the accounting requirements of this Act and taking steps to secure compliance with them.
§ (4) Regulations under this section may contain such transitional and other supplementary and incidental provisions as appear to the Secretary of State to be appropriate.".'.615
§ 42 Clause 18, page 33, line 19, leave out from '1985' to end of line 21.
§ Lord Trefgarne
My Lords, I beg to move that the House do agree with the Commons in their Amendments Nos. 38 to 42 en bloc.
§ Moved, That the House do agree with the Commons in the said amendments. —(Lord Trefgarne.)
§ On Question, Motion agreed to.