S.I. No. 304/2012 - European Union (Accounts) Regulations 2012.
Notice of the making of this Statutory Instrument was published in | ||
“Iris Oifigiúil” of 7th August, 2012. | ||
I, RICHARD BRUTON, Minister for Jobs, Enterprise and Innovation, in exercise of the powers conferred on me by section 3 of the European Communities Act 1972 (No. 27 of 1972) and for the purpose of giving further effect to Council Directive 78/660/EEC of 25 July 19781 , as amended by Directive 2006/46/EC of the European Parliament and of the Council of 14 June 20062 , hereby make the following regulations: | ||
1. These Regulations may be cited as the European Union (Accounts) Regulations 2012. | ||
2. Section 8 (2) of the Companies (Amendment) Act 1986 (No. 25 of 1986) is amended— | ||
(a) in paragraph (a) (amended by Regulation 4(a) of the European Communities (Accounts) Regulations 1993 ( S.I. No. 396 of 1993 )), by substituting “€4.4 million” for “ £1,500,000”, and | ||
(b) in paragraph (b) (amended by Regulation 4(b) of the European Communities (Accounts) Regulations 1993), by substituting “€8.8 million” for “ £3,000,000”. | ||
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GIVEN under my Official Seal, | ||
3 August 2012. | ||
RICHARD BRUTON, | ||
Minister for Jobs Enterprise and Innovation. | ||
EXPLANATORY NOTE | ||
(This note is not part of the Instrument and does not purport to be a legal interpretation.) | ||
These Regulations give further effect to Directive 2006/46/EC of the European Parliament and of the Council of 14 June 2006, amending Council Directive 78/660/EEC, by increasing the balance sheet total and turnover thresholds set out at section 8 (2) of the Companies (Amendment) Act 1986 for the purpose of availing of certain accounting exemptions for small companies to €4.4 million and €8.8 million respectively. | ||
