Companies (Accounting) Act 2017

Modification of definition of “ineligible entities” in case of investment companies

85. The Principal Act is amended by the insertion of the following section after section 1400:

“1400A. The definition of ‘ineligible entities’ in section 275(1) shall apply to an investment company 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 investment companies;’.”.