Companies (Accounting) Act 2017

Amendment of section 347 of Principal Act

50. Section 347 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.”.