Section 479B | Companies excluded from the subsidiary companies audit exemption

A company is not entitled to the exemption conferred by section 479A (subsidiary companies) if it was at any time within the financial year in question—^F1

(a)a traded company as defined in section 474(1),^F1F2

(b)a company that—^F1

(i)is an authorised insurance company, a banking company, an e-money issuer, a MiFID investment firm or a UCITS management company, or^F1F3

(ii)carries on insurance market activity, or^F1

(iii)is a scheme funder of a Master Trust scheme within the meanings given by section 39(1) of the Pension Schemes Act 2017 or section 39(1) of the Pension Schemes Act (Northern Ireland) 2021 (interpretation of Part 1), or^F1F4F5

(c)a special register body as defined in section 117(1) of the Trade Union and Labour Relations (Consolidation) Act 1992 (c 52) or an employers' association as defined in section 122 of that Act or Article 4 of the Industrial Relations (Northern Ireland) Order 1992 (S.I. 1992/807) (NI 5).^F1