For regulation 50(b) substitute -

"(b) in regulation 34A (exemption from audit: qualifying subsidiaries) [Regulation 34A was inserted by S.I. 2012/2301.], in the modified section 479A -

(i) in subsection (1)(b), for "an EEA State" substitute "any part of the United Kingdom";

(ii) in subsection (2)(c), for sub-paragraph (i) substitute -

"(i) if the undertaking is a company, the requirements of Part 15 of this Act, or, if the undertaking is not a company, the legal requirements which apply to the drawing up of consolidated accounts for that undertaking, or";

(c) in regulation 34A, in the modified section 479C(2) -

(i) for paragraph (b) substitute -

"(b) the registered number (if any) of the parent undertaking,";

(ii) omit paragraph (c).".