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Companies Act 1985

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Changes over time for: Section 252

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Version Superseded: 01/10/2007

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Point in time view as at 19/06/1996. This version of this provision has been superseded. Help about Status

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There are currently no known outstanding effects for the Companies Act 1985, Section 252. Help about Changes to Legislation

252 Election to dispense with laying of accounts and reports before general meeting.E+W+S

(1)A private company may elect (by elective resolution in accordance with section 379A) to dispense with the laying of accounts and reports before the company in general meeting.

(2)An election has effect in relation to the accounts and reports in respect of the financial year in which the election is made and subsequent financial years.

(3)Whilst an election is in force, the references in the following provisions of this Act to the laying of accounts before the company in general meeting shall be read as references to the sending of copies of the accounts to members and others under section 238(1)—

(a)section 235(1) (accounts on which auditors are to report),

(b)section 270(3) and (4) (accounts by reference to which distributions are justified), and

(c)section 320(2) (accounts relevant for determining company’s net assets for purposes of ascertaining whether approval required for certain transactions);

and the requirement in section 271(4) that the auditors’ statement under that provision be laid before the company in general meeting shall be read as a requirement that it be sent to members and others along with the copies of the accounts sent to them under section 238(1).

(4)If an election under this section ceases to have effect, section 241 applies in relation to the accounts and reports in respect of the financial year in which the election ceases to have effect and subsequent financial years.

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