1 In section 240 (requirements in connection with publication of accounts) -
(a) in subsection (1) omit from "or, as the case may be," to "section 249A(2)";
(b) in subsection (3)(c) omit from "and, if no such report" to "any financial year";
(c) after subsection (3)(c) insert ", and";
(d) omit subsection (3)(e) and the ", and" preceding it;
(e) in the closing words of subsection (3) omit from "or any report" to "section 249A(2)".
2 In section 245 (voluntary revision of annual accounts or directors' report), in subsection (4)(b) omit "or reporting accountant".
3 In section 249A (exemptions from audit) -
(a) omit subsections (2), (3A) and (4);
(b) in subsection (6) for "figures for turnover or gross income" substitute "figure for turnover";
(c) in subsection (6A) omit "or (2)";
(d) in subsection (7) omit the definition of "gross income" and the ", and" preceding it.
4 In section 249B (cases where exemptions not available) -
(a) in the opening words of subsection (1) omi