Business impact target
I118Abolition of business impact target
1
In the Small Business, Enterprise and Employment Act 2015, omit sections 21 to 27 (business impact target) including the italic heading before section 21.
2
In consequence of subsection (1), that Act is amended as specified in subsections (3) and (4).
3
In section 29(5) (definition of “voluntary or community body”) for “has the meaning given in section 27.” substitute
means any of the following—
a
a trade union (within the meaning of section 1 of the Trade Union and Labour Relations (Consolidation) Act 1992 or Article 3 of the Industrial Relations (Northern Ireland) Order 1992 (S.I. 1992/807 (N.I. 5)));
b
an unincorporated body which does not distribute any surplus it makes to its members;
c
a charity;
d
a company limited by guarantee which does not distribute any surplus it makes to its members;
e
a registered society within the meaning given by section 1 of the Co-operative and Community Benefit Societies Act 2014;
f
a registered society within the meaning given by section 1A of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.)) or a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12));
g
a community interest company;
h
a charitable incorporated organisation within the meaning of Part 11 of the Charities Act 2011 or of the Charities Act (Northern Ireland) 2008 (c. 12 (N.I.));
i
a Scottish charitable incorporated organisation within the meaning of Chapter 7 of Part 1 of the Charities and Trustee Investment (Scotland) Act 2005 (asp 10).
4
In section 33(6), in paragraph (b) of the definition of “undertaking” for “section 27” substitute “section 29(5)”
.
5
In consequence of subsection (1), also omit the following—
a
in the Enterprise Act 2016, section 14 (and the italic heading before it) and Schedule 2;
b
in Schedule 6 to the Wales Act 2017, paragraph 107;
c
in Schedule 3 to the Advanced Research and Invention Agency Act 2022, paragraphs 9 and 10;
d
in the Schedule to the Dissolution and Calling of Parliament Act 2022, paragraphs 27 to 31 (including the italic heading before paragraph 27).