Citation, commencement and interpretation

1.-(1) These Regulations may be cited as the Reports on Payments to Governments (Amendment) Regulations 2015.

(2) These Regulations come into force on 18th December 2015.

(3) In these Regulations, "the 2014 Regulations" means the Reports on Payments to Governments Regulations 2014(4).

Corrections to the Reports on Payments to Governments Regulations 2014

2.-(1) The 2014 Regulations are amended as follows.

(2) In regulation 2(1) (interpretation)-

(a)in the definition of "parent undertaking", omit ", but is to be read as if "undertaking" has the meaning given in these Regulations";

(b)in the definition of "subsidiary undertaking", omit ", but is to be read as if "undertaking" has the meaning given in these Regulations";

(c)in the definition of "undertaking", for ""undertaking" means-" substitute ""UK undertaking" means-"; and

(d)after the definition of "UK undertaking" (as inserted by sub-paragraph (c)), insert-

""undertaking" has the meaning given in the Act.".

(3) In regulation 2(2) (interpretation), for "the definition of "undertaking"" substitute "the definition of "UK undertaking"".

(4) In regulations 3(1) and (2), 4, 5(2), 6, 7, 12, 13, 14(2), 15(1), 17(1) and 18(1), for "an undertaking" substitute "a UK undertaking".

(5) In regulations 5(1), 6, 7(b), 13(b), 14(1) and 19, for "the undertaking" (in each place where those words appear) substitute "the UK undertaking".

(6) In regulation 8(1) and (2) (duty to prepare a consolidated report), after "a parent undertaking" insert "which is a UK undertaking".

Inspection etc. of records of documents delivered to the registrar under the 2014 Regulations by partnerships or limited partnerships

3.  After regulation 20 of the 2014 Regulations, insert-

"Inspection etc. of records of documents delivered to the registrar under these Regulations by partnerships or limited partnerships

20A.-(1) The provisions of the Companies Act 2006(5) specified in the first column of Table A below, as modified in accordance with the third column of Table A, apply to partnerships and limited partnerships falling within the definition of "UK undertaking" in regulation 2(1); but in their application (or the application of any other provision by virtue of a modification set out in the third column of Table A) to such partnerships and limited partnerships they are to be read in accordance with paragraphs (2) and (3).

(2) A reference to the register is to be read as a reference to the records kept by the registrar of the information contained in-

(a)documents delivered to the registrar under any provision of these Regulations by-

(i)a partnership or limited partnership falling within the definition of "UK undertaking" in regulation 2(1), or

(ii)the directors of such a partnership or limited partnership;

(b)certified translations delivered to the registrar under section 1105(1) or 1106(1) and (3) of the Companies Act 2006 (as applied with modifications by regulation 20B) by-

(i)a partnership or limited partnership falling within the definition of "UK undertaking" in regulation 2(1), or

(ii)the directors of such a partnership or limited partnership.

(3) A reference to documents subject to the Directive disclosure requirements is to be read as a reference to any document required by regulation 14 or 15 to be delivered to the registrar by the directors of a partnership or limited partnership falling within the definition of "UK undertaking" in regulation 2(1).

Language requirements (translation) for documents delivered to the registrar under the 2014 Regulations by partnerships or limited partnerships

4.  After regulation 20A of the 2014 Regulations (as inserted by regulation 3), insert-

"Language requirements (translation) for documents delivered to the registrar under these Regulations by partnerships or limited partnerships

20B.  The provisions of the Companies Act 2006 specified in the first column of Table B below, as modified in accordance with the fourth column of Table B, apply in relation to the documents specified in the third column of Table B.

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations amend the Reports on Payments to Governments Regulations 2014 (S.I. 2014/3209) ("the 2014 Regulations") which extend to the whole of the United Kingdom. The 2014 Regulations implemented Chapter 10 of Directive 2013/34/EU on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC and repealing Council Directives 78/660/EEC and 83/349/EEC. These Regulations extend to the whole of the United Kingdom.

Regulation 2 corrects errors in the 2014 Regulations which derive from an unduly restrictive definition in the 2014 Regulations of the term "undertaking"; that definition feeds into other definitions and provisions in the 2014 Regulations. In particular, regulation 8 of the 2014 Regulations (as amended by these Regulations) imposes a duty on the directors of certain UK parent undertakings to prepare a consolidated report, and regulations 9 to 11 of the 2014 Regulations make provision about the content of such a report and provision for exemptions. The amendments made by regulation 2 of these Regulations ensure (by expanding the definition of "subsidiary undertaking" in the 2014 Regulations) that the subsidiary undertakings to be included in consolidated reports are not restricted to UK entities.

Regulations 3 and 4 apply (with some modifications) the provisions of Part 35 of the Companies Act 2006 (c.46) listed in Tables A and B in those regulations to documents delivered to the registrar under the 2014 Regulations by partnerships or limited partnerships. The provisions applied relate to public notice of receipt of certain documents, inspection of the register and language requirements (translation) for documents delivered to the registrar.

A transposition note for the 2014 Regulations, as amended by this instrument, is available on www.gov.uk/bis.

A full regulatory impact assessment of the effect that the 2014 Regulations were intended to have (and that they will have in consequence of the amendments made by this instrument) on the costs of business and the voluntary sector is available from the Business Environment Directorate, Department for Business, Innovation and Skills, 1 Victoria Street, London SW1H OET or from www.gov.uk/bis, and is also available alongside this instrument at www.legislation.gov.uk.