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The Directors' Remuneration Report Regulations (Northern Ireland) 2005

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Provision of summary financial statement to shareholders

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8.—(1) Article 259 of the Order(1) (provision of summary financial information to shareholders) shall be amended as follows.

(2) For paragraph (3) substitute –

(3) The summary financial statement –

(a)shall be derived from the company’s annual accounts, the directors' report and (in the case of a quoted company) the directors' remuneration report, and

(b)shall be in such form and contain such information as may be specified by regulations made by the Department..

(3) For paragraph (4) substitute –

(4) Every summary financial statement shall –

(a)state that it is only a summary of information in the company’s annual accounts, the directors' report and (in the case of a quoted company) the directors' remuneration report;

(b)contain a statement by the company’s auditors of their opinion as to whether the summary financial statement is consistent with those accounts and those reports and complies with the requirements of this Article and regulations made under it;

(c)state whether the auditors' report on the annual accounts, or on the annual accounts and the auditable part of the directors' remuneration report, was unqualified or qualified, and if it was qualified set out the report in full together with any further material needed to understand the qualification;

(d)state whether that auditors' report contained a statement under –

(i)Article 245(2); or

(ii)Article 245(3),

and if so, set out the statement in full..

(1)

Article 259 was inserted into the 1986 Order by Article 17 of the Companies (Northern Ireland) Order 1990 in place of an existing Article of that number, and amended by S.R. 1993 No. 220, S.I. 2001/3649 and S.R. 2003 No. 3

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