Document ID: chunk:federal_register_of_legislation:C2004A02825:body:0:p66
Version: federal_register_of_legislation:C2004A02825
Segment Type: other
Provision Reference: 
Character Range: 162136–164883

been made out when the statement is made, have affected the determination of an amount or particular in those accounts; and
          (b) if adjustments have not been made in those accounts to reflect circumstances or information of a kind referred to in paragraph (a), being circumstances that are, or information that is, relevant to an understanding of those accounts or of an amount or particular in those accounts—include in the statement such information and explanations as will prevent those accounts or that amount or particular from being misleading by reason that such adjustments have not been made.
     "(13) This section, as amended and in force at any time after the commencement of section 80 of the Companies and Securities Legislation (Miscellaneous Amendments) Act 1983, applies—
          (a) in the case of a company that is not a holding company—in relation to the first financial year of the company that commences after that commencement and in relation to subsequent financial years of the company; and
          (b) in the case of a company that is a holding company—
              (i) in relation to the first financial year of the company that commences after that commencement and the financial year of each corporation that is a subsidiary of the company that ended during, or at the end of, that financial year of the company; and
              (ii) in relation to subsequent financial years of the company and of each corporation that is a subsidiary of the company.".

Directors' reports
     81. Section 270 of the Principal Act is amended—
     (a) by omitting sub-sections (1), (2) and (3) and substituting the following sub-sections:
     "(1) The directors of a company, other than a company to which sub-section (2) applies, shall, not less than 14 days and not more than 56 days before the annual general meeting of the company 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 less than 14 days and not more than 56 days before the end of that period, cause to be made out a report, made in accordance with a resolution of the directors and signed by at least 2 directors—
          (a) stating—
              (i) the names of the directors in office at the date of the report;
              (ii) the principal activities of the company in the course of its last financial year and any significant change in the nature of those activities that occurred during that financial year;
              (iii) the net amount of the profit or loss of the company for that financial year after provision for income tax; and
              (iv) the amount (if any) that the directors recommend should be paid by way of dividend,