Document ID: chunk:federal_register_of_legislation:C2004A03231:body:0:p56
Version: federal_register_of_legislation:C2004A03231
Segment Type: other
Provision Reference: 
Character Range: 139950–142526

deemed, for the purposes of this Part (other than that sub-section and sub-section 279 (6a)), to form part of those accounts or group accounts, as the case may be.".

79. After section 266f of the Principal Act the following section is inserted in Division 1 of Part VI:

Annual report
"266g. (1) The Board shall, as soon as practicable after 30 June, and in any event before 31 October, in each year—
     (a) prepare a report describing the operations of the Board during the year that ended on 30 June in that year;
     (b) furnish the report to the Ministerial Council; and
     (c) furnish to the Minister a copy of the report.
"(2) Where a copy of a report is furnished to the Minister under sub-section (1), the Minister shall cause a copy of the report to be laid before each House of the Parliament within 15 sitting days of that House after the first-mentioned copy is received by him.".

Profit and loss account, balance-sheet, group accounts, &c.
80. (1) Section 269 of the Principal Act is amended—
     (a) by omitting sub-sections (1) and (2) and substituting the following sub-sections:
    "(1) The directors of a company shall, before the relevant time in relation to a financial year of the company, cause to be made out a profit and loss account for that financial year that gives a true and fair view of the profit or loss of the company for that financial year.
    "(2) The directors of a company shall, before the relevant time in relation to a financial year of the company, cause to be made out a balance-sheet as at the end of that financial year that gives a true and fair view of the state of affairs of the company as at the end of that financial year.";
     (b) by omitting from sub-section (3) all the words from and including "not less" (first occurring) to and including "that period" and substituting "before the relevant time in relation to that financial year";

     (c) by inserting after sub-section (3) the following sub-sections:
    "(3a) Where, at the end of a financial year of a company, the company is a prescribed company, the directors of the company shall, before the relevant time in relation to that financial year, cause to be made out—
         (a) in a case where paragraph (b) does not apply—a cash statement relating to that financial year that gives a true and fair view of the cash movements of the company during that financial year; or
         (b) in a case where, at the end of that financial year, the company is a holding company (other than a holding company that is a wholly-owned subsidiary of a company or