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Companies (Summary Financial Statement) Regulations (Northern Ireland) 1996

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5.—(1) A listed public company may give a notice to an entitled person (including for this purpose a person to whom regulation 4(5) applies), by sending it by post or giving it in any other manner authorised by the company’s articles, which shall—

(a)state that for the future, so long as he is an entitled person, he will be sent a summary financial statement for each financial year instead of a copy of the company’s full accounts and reports, unless he notifies the company in writing that he wishes to receive full accounts and reports,

(b)state that the summary financial statement for a financial year will contain a summary of the company’s or group’s profit and loss account, balance sheet and directors' report for that year,

(c)state that the printed card or form accompanying the notice in accordance with paragraph (2) must be returned by a date specified in the notice, being a date at least 21 days after service of the notice and not less than 28 days before the first date on which copies of the full accounts and reports for the next financial year for which the entitled person is entitled to receive them are sent out to entitled persons in compliance with Article 246(1) of the 1986 Order,

(d)include a statement in a prominent position to the effect that a summary financial statement will not contain sufficient information to allow as full an understanding of the results and state of affairs of the company or group as would be provided by the full annual accounts and reports and that members and debenture holders requiring more detailed information have the right to obtain, free of charge, a copy of the company’s last full accounts and reports, and

(e)state that the summary financial statement will contain a statement by the company’s auditors as to whether the summary financial statement is consistent with the full accounts and reports for the year in question, whether it complies with the requirements of Article 259 of the 1986 Order and of these Regulations and whether their report on the accounts was qualified.

(2) Subject to paragraph (3), the notice shall be accompanied by a printed card or form, in respect of which any postage necessary for its return to the company has been, or will be, paid by the company, which is so worded as to enable an entitled person (including a person to whom regulation 4(5) applies), by marking a box and returning the card or form, to notify the company that he wishes to receive full accounts and reports for the next financial year for which he is entitled to receive them as an entitled person and for all future financial years thereafter.

(3) The company need not pay the postage in respect of the return of the printed card or form in the following circumstances—

(a)if the address of a member to which notices are sent in accordance with the company’s articles is not within an EEA State,

(b)if the address of a debenture holder to which notices are sent in accordance with the terms of any instrument constituting or otherwise governing the debentures of which he is a holder is not within an EEA State, or

(c)if the address of a person to whom regulation 4(5) applies to which notices are sent, in accordance with the contractual provisions whereunder he has a right (conditionally or unconditionally) to become an entitled person, is not within an EEA State.

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