PART 2SYNDICATE ACCOUNTS
Delivery and publication of accounts in euros16
1
The amounts set out in the syndicate's annual accounts may also be shown in the same accounts translated into euros.
2
When complying with regulation 8(2) the managing agent may send to the Authority an additional copy of the syndicate's annual accounts in which the amounts have been translated into euros.
3
In both cases—
a
the amounts must have been translated at the exchange rate prevailing on the date to which the balance sheet is made up; and
b
that rate must be disclosed in the notes to the accounts.
4
For the purposes of regulation 15 any additional copy of the syndicate's annual accounts sent to the Authority under paragraph (2) above shall be treated as statutory accounts of the syndicate.
5
In the case of such a copy, references in regulation 15 to the auditor's report on the syndicate's annual accounts must be read as references to the auditor's report on the annual accounts of which it is a copy.