S.I. No. 382/2005 - Companies Act 1990 (Prescribed Alternative Accounting Standards Bodies) Regulations 2005

1. These Regulations may be cited as the

Companies Act 1990

(Prescribed Alternative Accounting Standards Bodies Regulations 2005.

2. These Regulations shall come into operation on the 19th day of July 2005.

3. In these Regulations—

“accounting standards” means the standards referred to in the relevant definition;

“relevant definition” means the definition of “alternative body of accounting standards” in section 260A(4) of the

Companies Act 1990

(No. 33 of 1990) (inserted by

section 28

of the

Investment Funds, Companies and Miscellaneous Provisions Act 2005

(No. 12 of 2005)).

4. Each of the following bodies having authority to lay down accounting standards in

(

a

) United States of America,

(

b

) Canada, and

(

c

) Japan,

respectively, is prescribed, as respects United States of America, Canada or Japan, as the case may be, for the purposes of the relevant definition, namely—

(i) the Financial Accounting Standards Board (FASB), United States of America;

(ii) the Accounting Standards Board of Canada; and

(iii) the Accounting Standards Board of Japan.

GIVEN under my Official Seal, this 19th day of July 2005.

MICHEÁL MARTIN,

Minister for Enterprise, Trade and Employment.

EXPLANATORY NOTE.

(This note is not part of the Instrument and does not purport to be a legal interpretation)

.

These Regulations prescribe the bodies in the United States, Canada and Japan which have the authority to lay down accounting standards with which investment companies may comply. The Regulations are made under Section 260A of the

Companies Act 1990

as inserted by

Section 28

of the

Investment Funds, Companies and Miscellaneous Provisions Act 2005

.

S.I. No. 382 of 2005

.

COMPANIES ACT 1990 (PRESCRIBED ALTERNATIVE ACCOUNTING STANDARDS BODIES) REGULATIONS 2005.

I, MICHEÁL MARTIN, T.D., Minister for Enterprise Trade and Employment, in exercise of the powers conferred on me by section 3(3) of the

Companies Act 1990

(No. 33 of 1990), and having complied with subsection (5) of section 260A of that Act (inserted by

section 28

of the

Investment Funds, Companies and Miscellaneous Provisions Act 2005

(No. 12 of 2005), hereby make the following regulations