[ Charitable donations]U.K.
[5(1)If—
(a)the company (not being the wholly-owned subsidiary of a company incorporated in Great Britain) has in the financial year given money for charitable purposes, and
(b)the money given exceeded £200 in amount,
the directors’ report for the year shall contain, in the case of each of the purposes for which money has been given, a statement of the amount of money given for that purpose.
(2)If—
(a)at the end of the financial year the company has subsidiaries which have, in that year, given money for charitable purposes, and
(b)it is not itself the wholly-owned subsidiary of a company incorporated in Great Britain,
sub-paragraph (1) does not apply to the company; but, if the amount given in that year for charitable purposes by the company and the subsidiaries between them exceeds £200, the directors’ report for the year shall contain, in the case of each of the purposes for which money has been given by the company and the subsidiaries between them, a statement of the amount of money given for that purpose.
(3)Money given for charitable purposes to a person who, when it was given, was ordinarily resident outside the United Kingdom is to be left out of account for the purposes of this paragraph.
(4)For the purposes of this paragraph “charitable purposes” means purposes which are exclusively charitable, and as respects Scotland “charitable” is to be construed as if it were contained in the Income Tax Acts.]
Financial instrumentsU.K.
5A(1)In relation to the use of financial instruments by a company . . . , the directors' report must contain an indication of –
(a)the financial risk management objectives and policies of the company . . . , including the policy for hedging each major type of forecasted transaction for which hedge accounting is used, and
(b)the exposure of the company . . . to price risk, credit risk, liquidity risk and cash flow risk,
unless such information is not material for the assessment of the assets, liabilities, financial position and profit or loss of the company . . . .
[(1A)In relation to a group directors' report sub-paragraph (1) has effect as if the references to the company were references to the company and its subsidiary undertakings included in the consolidation.]
(2)In sub-paragraph (1) the expressions “hedge accounting”, “price risk”, “credit risk”, “liquidity risk” and “cash flow risk” have the same meaning as they have in Council Directive 78/660/EEC on the annual accounts of certain types of companies, and in Council Directive 83/349/EEC on consolidated accounts, as amended.
Textual Amendments
Modifications etc. (not altering text)