Urgent Notice: Extension of Transitional Period of Amended Codes of Good Practice
The transitional period for the Amended Codes has been extended to 30 April 2015.
The Amended Codes will no longer become effective on 11 October 2014 but rather on 30 April 2015. This means that businesses will be able to apply the existing Codes until 30 April 2015 and then measurement will be in terms of the Amended Codes only. This extension was communicated this morning in writing to the sectoral councils. The extension is granted in an effort to allow the sectoral councils sufficient time to align their sector codes with the Amended Codes.
The DTI also indicated that it will ‘communicate officially in due course how the transitional period will apply’ as it is still unclear as to what measurement periods of businesses it will apply to. The financial year ends of businesses differ and because measurement is for a 12 month period, normally the financial period of the business, there is uncertainty as to the application of a new set of rules to measurement periods that are not exactly aligned to it i.e. 30 April 2015.
All material subject to our Legal Disclaimers.