Companies (Accounting) Act 2017

Modification of definition of “ineligible entities” in case of PLCs

75. The Principal Act is amended by the insertion of the following section after section 1116:

“1116A. The definition of ‘ineligible entities’ in section 275(1) shall apply to a PLC as if—

(a) in paragraph (c), ‘undertakings,’ were substituted for ‘undertakings, or’,

(b) in paragraph (d)(ii), ‘shall be read accordingly, or’ were substituted for ‘shall be read accordingly;’, and

(c) the following paragraph were inserted after paragraph (d):

‘(e) are PLCs;’.”.