Document ID: chunk:federal_register_of_legislation:C2004A02825:body:0:p63
Version: federal_register_of_legislation:C2004A02825
Segment Type: other
Provision Reference: 
Character Range: 154526–157190

company and any officer of the company or holding company who is in default are each guilty of an offence.".

Profit and loss account, balance-sheet and group accounts
80. Section 269 of the Principal Act is amended—
     (a) by inserting in paragraph (7) (b) ", whether directly or indirectly," after "realize" (first occurring); and
     (b) by omitting sub-sections (9) and (10) and substituting the following sub-sections:
     "(8a) Without affecting the generality of the preceding provisions of this section, the directors of a company shall ensure that the accounts of the company and, if the company is a holding company for which group accounts are required, the group accounts of the company are made out in accordance with applicable approved accounting standards.
     "(8b) Notwithstanding sub-section (8a), where the accounts of a company or the group accounts of a holding company would not, if made out in accordance with a particular applicable approved accounting standard, give a true and fair view of the matters required by this section to be dealt with in those accounts or group accounts, as the case may be, the directors of the company or holding company are not required to ensure that those accounts or group accounts, as the case may be, are made out in accordance with that accounting standard.
     "(9) The directors of a company shall cause to be attached to any accounts required by section 275 to be laid before an annual general meeting of the company, before the auditor reports on the accounts under this Part, a statement made, not more than 56 days before the date of the annual general meeting or, if no annual general meeting of the company is held within the period within which it is required by section 240 to be held, not more than 56 days before the end of that period, in accordance with a resolution of the directors and signed by at least 2 directors—
          (a) stating whether, in the opinion of the directors—
              (i) the profit and loss account is drawn up so as to give a true and fair view of the profit or loss of the company for its last financial year (in this sub-section referred to as 'the financial year');

              (ii) the balance-sheet is drawn up so as to give a true and fair view of the state of affairs of the company as at the end of the financial year; and
              (iii) at the date of the statement, there are reasonable grounds to believe that the company will be able to pay its debts as and when they fall due;
          (b) stating whether the accounts have been made out in accordance with applicable approved accounting standards;
          (c) if the accounts