Companies (Accounting) Act 2017

Amendment of section 341 of Principal Act

49. Section 341 of the Principal Act is amended—

(a) in subsection (1)(b), by the substitution of “subject to subsection (1A), the directors’ report”, for “the directors’ report”, and

(b) by the insertion of the following subsection after subsection (1):

“(1A) Subsection (1)(b) shall not apply to a company that qualifies for the micro companies regime and has availed itself of the exemption, under section 325(1A), from preparing a directors’ report.”.