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Company Accounts

Question for Department for Business, Energy and Industrial Strategy

UIN HL5214, tabled on 30 January 2018

To ask Her Majesty's Government whether the Financial Reporting Council rejected two legal opinions from Mr George Bompas QC, for the Local Authorities Pension Fund Forum, on the net assets test under section 831 of the Companies Act 2006; and, if so, on what grounds.

Answered on

12 February 2018

The Financial Reporting Council (FRC) sought advice on a range of matters from Martin Moore QC and the Local Authorities Pension Fund Forum sought advice on a range of issues from George Bompas QC. The opinions received have been published by the respective organisations and reflect that leading counsel reached different conclusions on some of the issues. The FRC accepted the advice it received.