Legislation – Economic Crime and Corporate Transparency Act 2023
Changes to legislation:
There are currently no known outstanding effects for the Economic Crime and Corporate Transparency Act 2023, Section 56.
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PART 1Companies etc
Accounts and reports
56Use or disclosure of profit and loss accounts for certain companies
(1)
The Companies Act 2006 is amended as follows.
(2)
“468AUse or disclosure of profit and loss accounts for certain companies
(1)
The Secretary of State may by regulations make provision requiring the registrar, on application or otherwise—
(a)
not to make available for public inspection profit and loss accounts, or parts of them, delivered to the registrar under—
section 443A (micro-entities), or
section 444 (other small companies);
(b)
to refrain from disclosing such accounts, or parts of them, except in specified circumstances.
(2)
Regulations under subsection (1) which provide for the making of an application may make provision as to—
(a)
who may make an application;
(b)
the grounds on which an application may be made;
(c)
the information to be included in and documents to accompany an application;
(d)
the notice to be given of an application and of its outcome;
(e)
how an application is to be determined;
(f)
the duration of, and procedures for revoking, any restrictions on the making of information available for public inspection or its disclosure.
(3)
(4)
The circumstances that may be specified under subsection (1)(b) by way of an exception to a restriction on disclosure include circumstances where the court has made an order, in accordance with the regulations, authorising disclosure.
(5)
Regulations under subsection (1)(b) may not require the registrar to refrain from disclosing information under section 1110F (general powers of disclosure by the registrar).
(6)
Regulations under this section may in particular confer a discretion on the registrar.
(7)
Regulations under this section are subject to affirmative resolution procedure.”
(3)
“(bba)
the following—
(i)
any application or other document delivered to the registrar under regulations under section 468A (regulations protecting profit and loss accounts for certain companies);
(ii)
any information which regulations under section 468A require not to be made available for public inspection;”.