The European Union (Adjustments of Size Criteria for Certain Companies and Groups) Regulations 2024 have increased the size limits for companies to qualify under the various size criteria in the Companies Act 2014. There is still the requirement that the company meet two of the three criteria, and none of the other terms and conditions in s280A to s280G have changed – just the size limits. The change is effective for financial years beginning on or after 1 January 2023; the legislation was backdated by one year.
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