1097. Application of section 167 to PLC that is not a public-interest entity under S.I. No. 220 of 2010

Section 167 shall apply to a PLC that does not fall within section 1551 (which relates to an obligation of a public-interest entity to establish an audit committee) and, for the avoidance of doubt, that section shall apply irrespective of the balance sheet amount or the amount of turnover of the PLC for any financial year.