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Companies Act 1985

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Changes over time for: Section 272

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Version Superseded: 01/02/1994

Status:

Point in time view as at 02/10/1991. This version of this provision has been superseded. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Companies Act 1985, Section 272. Help about Changes to Legislation

272 Requirements for interim accounts. E+W+S

(1)The following are the statutory requirements in respect of interim accounts prepared for a proposed distribution by a public company.

(2)The accounts must have been properly prepared, or have been so prepared subject only to matters which are not material for determining, by reference to items mentioned in section 270(2), whether the proposed distribution would contravene the relevant section.

(3)Properly prepared” means that the accounts must comply with [F1section 226] (applying that section and Schedule 4 with such modifications as are necessary because the accounts are prepared otherwise than in respect of an accounting reference period) and any balance sheet comprised in the accounts must have been signed in accordance with [F2section 233]; and, without prejudice to the foregoing—

(a)so much of the accounts as consists of a balance sheet must give a true and fair view of the state of the company’s affairs as at the balance sheet date, and

(b)so much of the accounts as consists of a profit and loss account must give a true and fair view of the company’s profit or loss for the period in respect of which the accounts were prepared.

(4)A copy of the accounts must have been delivered to the registrar of companies.

(5)If the accounts are in a language other than English and [F3the second sentence of section 242(1)] (translation) does not apply, a translation into English of the accounts, certified in the prescribed manner to be a correct translation, must also have been delivered to the registrar.

Textual Amendments

F1Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 5(a) (subject to the saving and transitional provisions in S.I. 1990/355, arts. 6–9, Sch. 3 para. 1)

F2Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 5(b) (subject to the saving and transitional provisions in S.I. 1990/355, arts. 6–9, Sch. 3 para. 1)

F3Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 6 (subject to the saving and transitional provisions in S.I. 1990/355, arts. 6–9, Sch. 3 para. 1)

Modifications etc. (not altering text)

C3Ss. 270 - 276 applied (with modifications) (27. 12. 1991) by S.I. 1991/2908, art. 2, Sch. para. 7(1)

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