The Companies (Revision of Defective Accounts and Report) Regulations 1990

Approval and signature of revised accounts or a revised report

5.—(1) Section 234A of the Act (approval and signing of directors' report) shall apply to a revised report, save that in the case of revision by supplementary note, it shall apply as if it required the signature to be on the supplementary note.

(2) Where the original directors' report has been sent out to members under section 238(1) of the Act, laid before the company in general meeting under section 241(1) of the Act or delivered to the registrar under section 242(1) of the Act, the directors shall, before approving the revised report under section 234A of the Act, cause statements as to the following matters to be made in a prominent position in the revised report (in the case of a revision by supplementary note, in that note):

(a) in the case of a revision by replacement:

(i) that the revised report replaces the original report for the financial year (specifying it);

(ii) that it has been prepared as at the date of the original directors' report and not as at the date of revision and accordingly does not deal with any events between those dates;

(iii) the respects in which the original directors' report did not comply with the requirements of the Act; and

(iv) any significant amendments made consequential upon the remedying of those defects;

(b) in the case of revision by a supplementary note:

(i) that the note revises in certain respects the original directors' report of the company and is to be treated as forming part of that report; and

(ii) that the directors' report has been revised as at the date of the original directors' report and not as at the date of the revision and accordingly does not deal with events between those dates,

and shall, when approving the revised report, cause the date on which the approval is given to be stated in them (in the case of a revision by supplementary note, in that note); section 234(5) of the Act shall apply with respect to a failure to comply with this paragraph as if the requirements of this paragraph were requirements of Part VII of the Act.