LR TR 13 Transitional Provisions for the UK Corporate Governance Code

1.

LR 9.8.6R (5), LR 9.8.6R (6) and LR 15.6.6 R (2)

R

(1) Where a listed company or a closed-ended investment fund has an accounting period ending before 30 September 2013, a reference to a Main Principle, principle or provision in the UK Corporate Governance Code is a reference to the Main Principle, principle or provision in the UK Corporate Governance Code published by the Financial Reporting Council in May 2010.

(2) Where a listed company or a closed-ended investment fund has an accounting period ending on or after 30 September 2013 but before 1 February 2015, a reference to a Main Principle, principle or provision in the UK Corporate Governance Code may be read as:

(a) a reference to the Main Principle, principle or provision in the UK Corporate Governance Code published by the Financial Reporting Council in May 2010; or

(b) a reference to the Main Principle, principle or provision in the UK Corporate Governance Code published by the Financial Reporting Council in September 2012.

From 1 February 2015

1 February 2015

2.

LR 9.8.6R (5), LR 9.8.6R (6) and LR 15.6.6 R (2)

G

Where LR TR 13.1R(2) applies, and a listed company or a closed-ended investment fund has applied the UK Corporate Governance Code published by the Financial Reporting Council in May 2010, the FCA expects a listed company or a closed-ended investment fund to disclose this in any statement required under LR 9.8.6R (5) (Application of main principles), LR 9.8.6R (6) (Comply or explain) or LR 15.6.6 R (2) (Closed-ended investment fund with no executive directors).

From 1 February 2015

1 February 2015

3.

LR 9.8.10 R

R

(1) Where a listed company or a closed-ended investment fund has an accounting period ending before 30 September 2013, the listed company or closed-ended investment fund must ensure that the auditors review each of the following before the annual report is published:

(a) LR 9.8.6R (3) (Statement by the directors that the business is a going concern); and

(b) parts of the statement required by LR 9.8.6R (6) (Comply or explain) that relate to provisions C.1.1, C.2.1 and C.3.1 to C.3.7 of the UK Corporate Governance Code published by the Financial Reporting Council in May 2010.

(2) Where a listed company or a closed-ended investment fund has an accounting period ending on or after 30 September 2013 but before 1 February 2015, the listed company must:

(a) comply with LR 9.8.10 R (Auditors report); or

(b) ensure that the auditors review each of the following before the annual report is published:

(i) LR 9.8.6R (3) (statement by the directors that the business is a going concern); and

(ii) parts of the statement required by LR 9.8.6R (6) (Comply or explain) that relate to provisions C.1.1, C.2.1 and C.3.1 to C.3.7 of the UK Corporate Governance Code published by the Financial Reporting Council in May 2010.

From 1 February 2015

1 February 2015