(1) Subject to these Regulations, the 1986 Act shall apply to an undertaking to which this Part applies as it applies to companies to which that Act applies.
(2) Notwithstanding section 1 (1) of the 1986 Act, the term "company" in that Act shall include an unlimited company to which this Part appies and the term "private company'' shall include such unlimited companies that are not public companies.
(3) Subject to these Regulations, the 1986 Act shall be applied to partnerships to which this Part applies as though those partnerships were companies formed and registered under the Companies Acts with any modifications necessary to take account of the fact that such partnerships are unincorporated.
(4) Notwithstanding paragraphs (1), (2) and (3), an undertaking to which this Part applies shall prepare its annual individual accounts in accordance with -
(a) section 149 of the Companies Act 1963 (in these Regulations referred to as ‘Companies Act individual accounts’), or
(b) inter