Statutory Instrument 1990 No. 593 (N.I. 5)

The Companies (Northern Ireland) Order 1990

(The document as of February, 2008)

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STATUTORY INSTRUMENTS

1990 No. 593 (N.I. 5)

NORTHERN IRELAND

The Companies (Northern Ireland) Order 1990

Made	14th March 1990

Laid before Parliament

3rd April 1990

Coming into operation on days to be appointed under Article 1(1)

ARRANGEMENT OF ORDER

Article
PART I
INTRODUCTORY
1.	Title and commencement.
2.	Interpretation.
PART II
COMPANY ACCOUNTS
Introduction
3.	Introduction.
Provisions applying to companies generally
4.	Accounting records.
5.	A company's financial year and accounting reference periods.
6.	Individual company accounts.
7.	Group accounts.
8.	Additional disclosure required in notes to accounts.
9.	Approval and signing of accounts.
10.	Directors' report.
11.	Auditors' report.
12.	Publication of accounts and reports.
13.	Laying and delivering of accounts and reports.
14.	Remedies for failure to comply with accounting requirements.
Exemptions and special provisions
15.	Small and medium-sized companies and groups.
16.	Dormant companies.
17.	Public listed companies: provision of summary financial statement.
18.	Private companies: election to dispense with laying of accounts and reports before general meeting.
19.	Unlimited companies: exemption from requirement to deliver accounts and reports.
20.	Banking and insurance companies and groups: special provisions.
Supplementary provisions
21.	Accounting standards.
22.	Power to alter accounting requirements.
23.	Parent and subsidiary undertakings.
24.	Other interpretation provisions.
25.	Consequential amendments.
26.	Repeals consequential on Part II.
PART III
ELIGIBILITY FOR APPOINTMENT AS COMPANY AUDITOR
Introduction
27.	Introduction.
Eligibility for appointment
28.	Eligibility for appointment.
29.	Effect of appointment of partnership.
30.	Ineligibility on ground of lack of independence.
31.	Effect of ineligibility.
32.	Power of Department to require second audit.
Recognition of supervisory bodies and professional qualifications
33.	Supervisory bodies.
34.	Meaning of "appropriate qualification".
35.	Qualifying bodies and recognised professional qualifications.
36.	Approval of overseas qualifications.
Duties of recognised bodies
37.	The register of auditors.
38.	Information about firms to be available to public.
39.	Matters to be notified to the Department.
40.	Power to call for information.
41.	Compliance orders.
42.	Directions to comply with international obligations.
Offences
43.	False and misleading statements.
44.	Offences by bodies corporate, partnerships and unincorporated associations.
45.	Time limits for prosecution of offences.
46.	Jurisdiction and procedure in respect of offences.
Supplementary provisions
47.	Fees.
48.	Delegation of functions of Department.
49.	Restrictive practices.
50.	Exemption from liability for damages.
51.	Service of notices.
52.	Power to make consequential amendments.
53.	Power to make provision in consequence of changes affecting accountancy bodies.
54.	Meaning of "associate".
55.	Minor definitions.
56.	Index of defined expressions.
57.	Repeals consequential on Part III.

SCHEDULES:
	Schedule 1—	Form and content of company accounts.
	Schedule 2—	Form and content of group accounts.
	Schedule 3—	Disclosure of information: related undertakings.
	Part I—	Companies not required to prepare group accounts.
	Part II—	Companies required to prepare group accounts.
	Schedule 4—	Disclosure of information: emoluments and other benefits of directors and others.
	Schedule 5—	Matters to be included in directors' report.
	Schedule 6—	Exemptions for small and medium-sized companies.
	Part I—	Small companies.
	Part II—	Medium-size companies.
	Part III—	Supplementary provisions.
	Schedule 7—	Special provisions for banking and insurance companies and groups.
	Part I—	Form and content of accounts.
	Part II—	Accounts of banking or insurance group.
	Part III—	Additional disclosure: related undertakings.
	Part IV—	Additional disclosure: emoluments and other benefits of directors and others.
	Schedule 8—	Directors' report where accounts prepared in accordance with special provisions for banking or insurance companies or groups.
	Schedule 9—	Parent and subsidiary undertakings: supplementary provisions.
	Schedule 10—	Amendments consequential on Part II.
	Schedule 11—	Recognition of supervisory body.
	Part I—	Grant and revocation of recognition.
	Part II—	Requirements for recognition.
	Schedule 12—	Recognition of professional qualification.
	Part I—	Grant and revocation of recognition.
	Part II—	Requirements for recognition.
	Schedule 13—	Supplementary provisions with respect to delegation order.
	Schedule 14—	Supervisory and qualifying bodies: restrictive practices.
	Part I—	Prevention of restrictive practices.
	Part II—	Consequential exemptions from competition law.
	Schedule 15—	Repeals.
	Part I—	Repeals consequential on Part II of this Order.
	Part II—	Repeals consequential on Part III of this Order.

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