The Local Audit (Professional Qualifications and Major Local Audit) Regulations 2014
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
12 Definition of major local audit
(1) In relation to a financial year, for the purposes of paragraph 13(10) of Schedule 10 to the Companies Act 2006 (recognised supervisory bodies) as it has effect by virtue of Schedule 5 to the Act a local audit of the accounts of a relevant authority is a “major local audit” if the relevant authority falls within any of the following descriptions— (a) for a financial year— (i) beginning on or before 1st April 2024, the higher of the relevant authority’s total income (from all sources) for that financial year and its total expenditure (from all sources) for that financial year exceeds £500 million; (ii) beginning on or after 1st April 2025, the higher of the relevant authority’s total income (from all sources) for that financial year and its total expenditure (from all sources) for that financial year exceeds £875 million; (b) the relevant authority is required to maintain a pension fund under regulations under section 1 of the Public Service Pensions Act 2013 as they relate to local government workers (within the meaning of that Act), and either— (i) more than 20,000 members of a scheme established under those regulations, in relation to local government workers within the meaning of that Act, have rights relating to that fund, or (ii) the fund has gross assets of £1,000 million or more. (2) For the purposes of paragraph (1), a person is a member of the scheme if one or more of the following conditions apply— (a) there are presently arrangements made under the scheme for the accrual of benefits to or in respect of the person; (b) the person is entitled to the present payment of benefits under the pension scheme; (c) the person has accrued rights under the scheme; (d) the person has rights under the pension scheme which are attributable (directly or indirectly) to pension credits, and if a person dies having become entitled to pension credits but without having rights attributable to them, the person is to be treated as having acquired, immediately before death, the rights by virtue of which the liability in respect of the pension credits is subsequently discharged.
12 Definition of major local audit
(1) In relation to a financial year, for the purposes of paragraph 13(10) of Schedule 10 to the Companies Act 2006 (recognised supervisory bodies) as it has effect by virtue of Schedule 5 to the Act a local audit of the accounts of a relevant authority is a “major local audit” if the relevant authority falls within any of the following descriptions— (a) for a financial year— (i) beginning on or before 1st April 2024, the higher of the relevant authority’s total income (from all sources) for that financial year and its total expenditure (from all sources) for that financial year exceeds £500 million; (ii) beginning on or after 1st April 2025, the higher of the relevant authority’s total income (from all sources) for that financial year and its total expenditure (from all sources) for that financial year exceeds £875 million; (b) the relevant authority is required to maintain a pension fund under regulations under section 1 of the Public Service Pensions Act 2013 as they relate to local government workers (within the meaning of that Act), and either— (i) more than 20,000 members of a scheme established under those regulations, in relation to local government workers within the meaning of that Act, have rights relating to that fund, or (ii) the fund has gross assets of £1,000 million or more. (2) For the purposes of paragraph (1), a person is a member of the scheme if one or more of the following conditions apply— (a) there are presently arrangements made under the scheme for the accrual of benefits to or in respect of the person; (b) the person is entitled to the present payment of benefits under the pension scheme; (c) the person has accrued rights under the scheme; (d) the person has rights under the pension scheme which are attributable (directly or indirectly) to pension credits, and if a person dies having become entitled to pension credits but without having rights attributable to them, the person is to be treated as having acquired, immediately before death, the rights by virtue of which the liability in respect of the pension credits is subsequently discharged.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
How this law is officially changed
Solon does not know this law's official route yet. The proposal is recorded all the same, and the route appears here once its source is added.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.