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Company Law Reform Bill [HL]

moved Amendment No. 301DA:"Page 159, line 17, leave out ““that year”” and insert ““the accounting reference period by reference to which that financial year was determined””" The noble Lord said: This group of amendments is concerned with when the status of a company—whether it is public, private or quoted—is to be determined. This is important, for example, when a company has to file its accounts and reports with the registrar of companies. Under Clause 420, a private company will have nine months after the end of the relevant accounting reference period to file, while a public company will have six months. A public company, but not a private company, will be obliged to lay its accounts and reports before the company in general meeting. Also, quoted companies have certain specific obligations—for example, to prepare a directors’ remuneration report under Chapter 7 of this part. The amendments clarify that a company’s status is to be determined by its status immediately before the end of the accounting reference period. I beg to move. On Question, amendment agreed to. Clause 358, as amended, agreed to. Clause 359 [Duty to keep accounting records]: