Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he plans to maintain in force the Companies, Partnerships and Groups (Accounts and Non-Financial Reporting) Regulations 2016 after the UK leaves the EU.

As our future relationship with the EU becomes more clear there will be an opportunity to examine whether certain aspects of company law are still appropriate and cost effective. Consequently we intend to keep the effect and purpose of company non-financial reporting requirements under review, including the requirements of the Companies, Partnerships and Groups (Accounts and Non-Financial Reporting) Regulations 2016.

The UK’s company reporting regime is well regarded. We would expect that any review of this legislation would consider the possibility of burden reductions alongside the need to maintain the UK’s reputation as a hub of global transparency.