(1) Regulation 3 of the Small Companies Accounts Regulations applies to LLPs, modified so that it reads as follows -

"3. Non-IAS individual accounts

(1) Subject to the following provisions of this regulation and regulation 5A, Non-IAS individual accounts under section 396 of the 2006 Act (non-IAS individual accounts) must comply with the provisions of Schedule 1 to the Small Limited Liability Partnerships (Accounts) Regulations 2008 [S.I. 2008/1912.] as to the form and content of the balance sheet and profit and loss account, and additional information to be provided by way of notes to the accounts.

(1A) Sections C (alternative accounting rules) and D (fair value accounting) in Part 2 of Schedule 1 to these Regulations do not apply to an LLP which qualifies as a micro-entity in relation to a financial year (see sections 384A and 384B of the 2006 Act) and whose accounts for that year are prepared in accordance with the exemption permitted by -

(a) regulation 5A, or

(b) paragraph 1(1A) of Section A in Part 1 of Schedule 1 to these Regulations.

(2) [deleted]