Government amendment No. 43: In page 348, lines 12 to 25, to delete all words from and including “The” in line 12 down to and including line 25 and substitute the following:“The following provisions (the “audit exemption”) have effect where, by virtue of section 358 or 359, as appropriate, this section applies in respect of the statutory financial statements of a company or a group for a particular financial year--(a) without prejudice to section 384(2), section 333 (obligation to have statutory financial statements audited) shall not apply to the company or group in respect of that financial year, and (b) unless and until circumstances (if any) arise by reason of which the company or group is not entitled to the audit exemption in respect of that financial year, the provisions specified in subsection (2) shall not apply to the company or group in respect of that year.”.