C6C7C8C9Part 15Accounts and reports

Annotations:
Modifications etc. (not altering text)
C7

Pt. 15 applied (with modifications) (6.4.2008) by The Partnerships (Accounts) Regulations 2008 (S.I. 2008/569), regs. 4, 7, Sch. Pt. 1

C8

Pt. 15 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 16 (with transitional provisions and savings in regs. 7, 9, Sch. 2)

C11Chapter 11Revision of defective accounts and reports

Annotations:
Modifications etc. (not altering text)
C11

Pt. 15 Ch. 11 applied (with modifications) in part (31.7.2015) by The European Grouping of Territorial Cooperation Regulations 2015 (S.I. 2015/1493), regs. 1(2), 7(1) (with reg. 11)

Voluntary revision

C1C2I1C3C10454Voluntary revision of accounts etc

1

If it appears to the directors of a company that—

a

the company's annual accounts,

b

the directors' remuneration report or the directors' report, or

F9c

a strategic report of the company,

did not comply with the requirements of this Act (or, where applicable, of Article 4 of the IAS Regulation), they may prepare revised accounts or a revised report or statement.

2

Where copies of the previous accounts or report have been sent out to members, delivered to the registrar or (in the case of a public company) laid before the company in general meeting, the revisions must be confined to—

a

the correction of those respects in which the previous accounts or report did not comply with the requirements of this Act (or, where applicable, of Article 4 of the IAS Regulation), and

b

the making of any necessary consequential alterations.

3

The Secretary of State may make provision by regulations as to the application of the provisions of this Act in relation to—

a

revised annual accounts,

b

a revised directors' remuneration report or directors' report, or

F6F1 c

a revised strategic report of the company.

4

The regulations may, in particular—

F7a

make different provision according to whether the previous accounts F2or report are replaced or are supplemented by a document indicating the corrections to be made;

C4C5F8b

make provision with respect to the functions of the company's auditor in relation to the revised accounts F3or report ;

c

require the directors to take such steps as may be specified in the regulations where the previous accounts or report have been—

i

sent out to members and others under section 423,

ii

laid before the company in general meeting, or

iii

delivered to the registrar,

or where a F4strategic report and supplementary material containing information derived from the previous accounts or report F5have been sent to members under section 426;

d

apply the provisions of this Act (including those creating criminal offences) subject to such additions, exceptions and modifications as are specified in the regulations.

5

Regulations under this section are subject to negative resolution procedure.