Companies (Accounting) Act 2017

Modification of definition of “ineligible entities” in case of PUCs and PULCs

77. The Principal Act is amended by the insertion of the following section after section 1267:

“1267A. The definition of 'ineligible entities' in section 275(1) shall apply to a PUC or a PULC 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 PUCs and PULCs;'.”.