Valid from 22/03/2005
234ZZADirectors' report: general requirementsU.K.
(1)The directors' report for a financial year must state—
(a)the names of the persons who, at any time during the financial year, were directors of the company,
(b)the principal activities of the company in the course of the year, and
(c)the amount (if any) that the directors recommend should be paid by way of dividend.
(2)In relation to a group directors' report subsection (1)(b) has effect as if the reference to the company was a reference to the company and its subsidiary undertakings included in the consolidation.
(3)The report must also comply with Schedule 7 as regards the disclosure of the matters mentioned there.
(4)In Schedule 7—
Part 1 relates to matters of a general nature, including changes in asset values, directors' shareholdings and other interests and contributions for political and charitable purposes;
Part 2 relates to the acquisition by a company of its own shares or a charge on them;
Part 3 relates to the employment, training and advancement of disabled persons;
Part 5 relates to the involvement of employees in the affairs, policy and performance of the company;
Part 6 relates to the company's policy and practice on the payment of creditors.