(1) The 2008 Regulations are amended as follows.

(2) In regulation 33 (requirement for audited accounts), in the text of section 475(1) of 2006 Act as applied to LLPs, after paragraph (a) (but before the following "or"), insert -

"(aa) section 479A (subsidiary LLPs).".

(3) In regulation 34 (exemption from audit: small LLPs) -

(a) in the text of section 477 of the 2006 Act as applied to LLPs (small LLPs: conditions for exemption from audit) -

(i) in subsection (1) for "meets the following conditions in respect of" substitute "qualifies as a small LLP in relation to";

(ii) omit subsections (2) and (3);

(iii) in subsection (4), omit paragraph (b) and the preceding "and"; and

(b) in the text of section 479 of the 2006 Act as applied to LLPs (availability of small LLPs exemption in case of group LLP) -