| A company is not entitled to the exemption conferred by section 480 (dormant companies) if it was at any time within the financial year in question a company that— |
| [(za) | is a traded company as defined in section 474(1),] |
| (a) | is an authorised insurance company, a banking company, an e–money issuer, [a MiFID investment firm] or a UCITS management company, or |
| (b) | carries on insurance market activity. |
| NOTES |
| Derivation |
| This section derived from the Companies Act 1985, s 249AA(3). |
| Initial Commencement |
| To be appointed |
| To be appointed: see s 1300(2). |
| Appointment |
| Appointment: 6 April 2008: see SI 2007/3495, art 3(1)(e); for transitional provisions and savings see art 9, Sch 4, Pt 1, para 9 thereto. |
| Amendment |
| Para (za) inserted by SI 2015/980, reg 10(1), (4). |
| Date in force (for certain purposes): this amendment has effect in relation to a financial year of a company beginning on or after 1 January 2015, but before 1 January 2016, if the directors of the company so decide: for further effect see SI 2015/980, regs 2(2)(b), (3), 3. |
| Date in force (for remaining purposes): this amendment has effect in relation to financial years beginning on or after 1 January 2016: for further effect see SI 2015/980, regs 2(2)(a), (4), (5), 3. |
| In para (a) words “a MiFID investment firm” in square brackets substituted by SI 2007/2932, reg 3(1), (6). |
| Date in force: 1 November 2007: see SI 2007/2932, reg 1(1). |
| See Further |
| See further, in relation to the application of this section, with modifications, to limited liability partnership accounts for financial years beginning on or after 1 October 2008: the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, SI 2008/1911, regs 2(1), 35 (as amended by SI 2016/575, regs 3(1), 23). |
| See further, in relation to the application of this section to unregistered companies: the Unregistered Companies Regulations 2009, SI 2009/2436, regs 3–5, 7, 9, Sch 1, para 11(1), Sch 2, para 23(1)(a). |
| See further: the European Grouping of Territorial Cooperation Regulations 2015, SI 2015/1493, reg 7(1)(l), (2)–(4). |
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