Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Requirements definition

What does Requirements mean? In Development Consent Order (DCO) practice, Requirements are the binding conditions that regulate how, when and on what detailed terms the authorised development may proceed. They typically oblige the undertaker to submit and secure approval of detailed design, construction, and environmental management documents (for example, CEMP, traffic, landscape, contamination and archaeology plans) before commencement, phased works or operation. The term is used in legislation: section 120 of the Planning Act 2008 permits a DCO to impose “requirements”. In most DCOs they are set out in a schedule (often Schedule 2) and function similarly to planning conditions under the Town and Country...

Accounting records: directors’ duties, offences, preservation, penalties, defences and sentencing under the Companies Act 2006

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Practice notes

Duty to keep accounting records

Every company is obliged to maintain adequate accounting records. The purpose of this obligation is to ensure that businesses record their transactions so they can show the company’s financial position and prepare accounts that comply with the Companies Act 2006 (CA 2006) and the relevant UK‑adopted international accounting standards, or otherwise in accordance with UK generally accepted accounting practice standards, as applicable. See further, Practice Note: Accounting records—the duty to keep accounting records. ‘Adequate’ replaces ‘proper’ in the Companies Act 1985. In this context, adequate means sufficient to:

demonstrate and explain the company’s transactions
disclose, with reasonable accuracy at any time, the company’s financial position; and
enable the directors to ensure that any accounts required to be prepared comply with CA 2006

Under CA 2006, company accounting records must contain:

day‑to‑day entries of all monies received and expended by the company, together with the reasons for each receipt and item of expenditure; and
a record of the company’s assets and Liabilities

There is no statutory definition of accounting records, and what they comprise may vary depending on the size and nature of the company...

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Web page updated on 21/05/2026

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