The Companies Act 1985 (Operating and Financial Review) (Repeal) Regulations 2005

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

1.—(1) The Companies (Revision of Defective Accounts and Report) Regulations 1990(1) are amended as follows.

(2) In regulation 2 (interpretation)(2)—

(a) omit the definitions of “date of the original operating and financial review” and “revised review”;

(b) in the definition of “date of revision”—

(i) for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”, and

(ii) for “Regulation 5, 5A or 5B” substitute “Regulation 5 or 5A”;

(c) in the definition of “original”—

(i) for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”, and

(ii) omit the words “or review”;

(d) in the definitions of “revision by replacement” and “revision by supplementary note”, for “, directors' remuneration report or operating and financial review” (in each place) substitute “or directors' remuneration report”.

(3) In regulation 3 (content of revised accounts, revised report or revised review)(3)—

(a) in the heading, for “, revised report or revised review” substitute “or revised report”, and

(b) in paragraph (4)—

(i) for “, directors' remuneration report or operating and financial review” (in both places) substitute “or directors' remuneration report”, and

(ii) omit “or review” (in both places).

(4) Omit regulation 5B (approval and signature of revised operating and financial review)(4).

(5) In regulation 6 (auditors' report on revised accounts and revised report or review)(5)—

(a) in the heading, omit “or review”, and

(b) in paragraph (4), omit “or operating and financial review” and “or review” (in both places).

(6) In regulation 7 (auditors' report on revised report or review alone)(6)—

(a) in the heading, omit “or review”;

(b) in paragraphs (1) and (2) omit “or review”;

(c) omit paragraph (3A).

(7) In regulation 9 (effect of revision)(7)—

(a) in paragraph (1)—

(i) for “revised report or review” (in both places) substitute “revised report”;

(ii) for “Regulation 5, 5A or 5B” substitute “Regulation 5 or 5A”;

(iii) for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”;

(b) in paragraph (2)—

(i) omit “or review”, and

(ii) for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”.

(8) In regulation 10 (publication of revised accounts, reports and reviews)(8)—

(a) in the heading, for “, reports and reviews” substitute “and reports”;

(b) in paragraph (1)—

(i) for “revised report or review” substitute “revised report”, and

(ii) for “, report or review” substitute “or report”;

(c) in paragraphs (2) and (3) omit “or review” (in each place);

(d) in paragraph (4)—

(i) omit “or review”, and

(ii) for “Regulation 5, 5A or 5B” substitute “Regulation 5 or 5A”.

(9) In regulation 11 (laying of revised accounts or a revised report)(9)—

(a) in the heading, omit “or review”;

(b) in paragraph (1)—

(i) for “revised report or review” substitute “revised report”, and

(ii) for “, report or review” substitute “or report”;

(c) in paragraphs (2) and (3), omit “or review” (in each place).

(10) In regulation 12 (delivery of revised accounts or a revised report or review)(10)—

(a) in the heading, omit “or review”;

(b) in paragraph (1)—

(i) for “revised report or review” substitute “revised report”, and

(ii) for “, report or review” substitute “or report”;

(c) in paragraph (2), omit “or review” (in each place).

(11) In regulation 14 (summary financial statements)(11)—

(a) in paragraph (2), omit “or review”;

(b) in paragraph (4)—

(i) omit “or review” (in both places), and

(ii) for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”;

(c) in paragraph (5), omit “or review”;

(d) in paragraph (6), for “, the revised directors' remuneration report under Regulation 5A above or the revised operating and financial review under Regulation 5B above” substitute “or the revised directors' remuneration report under Regulation 5A above”.

(12) In regulation 16 (modifications of the Act)(12)—

(a) in paragraph (1), for “, directors' remuneration report or operating and financial review” substitute “or directors' remuneration report”, and

(b) in paragraph (3), omit “or review”.

(1)

S.I. 1990/2570, as amended by regulation 10 of S.I. 1992/3075, by regulation 5 of, and Schedule 2 to, S.I. 1994/1935, by regulation 12 of S.I. 1995/2092, by S.I. 1996/315, and by S.I. 2005/2282.

(2)

Regulation 2 was amended by regulation 3 of S.I. 2005/2282.

(3)

Regulation 3 was amended by regulation 4 of S.I. 2005/2282.

(4)

Regulation 5B was inserted by regulation 6 of S.I. 2005/2282.

(5)

Regulation 6 was amended by regulation 7 of S.I. 2005/2282.

(6)

Regulation 7 was amended by regulation 8 of S.I. 2005/2282.

(7)

Regulation 9 was amended by regulation 9 of S.I. 2005/2282.

(8)

Regulation 10 was amended by regulation 10 of S.I. 2005/2282.

(9)

Regulation 11 was amended by regulation 11 of S.I. 2005/2282.

(10)

Regulation 12 was amended by regulation 12 of S.I. 2005/2282.

(11)

Regulation 14 was amended by regulation 15 of S.I. 2005/2282.

(12)

Regulation 16 was amended by regulation 17 of S.I. 2005/2282.