S.I. No. 304/2012 - European Union (Accounts) Regulations 2012.

1. These Regulations may be cited as the European Union (Accounts) Regulations 2012.

2.

Section 8

(2) of the

Companies (Amendment) Act 1986

(No. 25 of 1986) is amended—

(

a

) in paragraph (

a

) (amended by Regulation 4(

a

) of the European Communities (Accounts) Regulations 1993 (

S.I. No. 396 of 1993

)), by substituting “€4.4 million” for “ £1,500,000”, and

(

b

) in paragraph (

b

) (amended by Regulation 4(

b

) of the European Communities (Accounts) Regulations 1993), by substituting “€8.8 million” for “ £3,000,000”.

GIVEN under my Official Seal,

3 August 2012.

RICHARD BRUTON,

Minister for Jobs Enterprise and Innovation.

EXPLANATORY NOTE

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

These Regulations give further effect to Directive 2006/46/EC of the European Parliament and of the Council of 14 June 2006, amending Council Directive 78/660/EEC, by increasing the balance sheet total and turnover thresholds set out at

section 8

(2) of the

Companies (Amendment) Act 1986

for the purpose of availing of certain accounting exemptions for small companies to €4.4 million and €8.8 million respectively.

1 OJ No. L 222, 14.8.1978, p.11.

2 OJ No. L 224, 16.8.2006, p.1.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

7

th August

, 2012.

I, RICHARD BRUTON, Minister for Jobs, Enterprise and Innovation, in exercise of the powers conferred on me by

section 3

of the

European Communities Act 1972

(No. 27 of 1972) and for the purpose of giving further effect to Council Directive 78/660/EEC of 25 July 1978

1

, as amended by Directive 2006/46/EC of the European Parliament and of the Council of 14 June 2006

2

, hereby make the following regulations