Commonwealth Development Corporation Act 1999

Accounts, &c.

4 (1) A copy of the most recent statement of accounts prepared by the Corporation under section 16(1) of the [1978 c. 2.] Commonwealth Development Corporation Act 1978 (accounts and audit).

(2) A copy of a report by the auditors appointed under section 16(3) of that Act stating without material qualification their opinion that the accounts were properly prepared in accordance with section 16(1) of that Act.

(3) For the purposes of sub-paragraph (2) a qualification is material unless the auditors state in the report that the matter giving rise to the qualification is not material for the purpose of paragraph 5.

5 A copy of a statement by the auditors that in their opinion the accounts show that if registration had taken place on the date of the accounts the amount of the Corporation’s net assets would have been not less than the aggregate of its called-up share capital and undistributable reserves assuming—

(a) that shares were allotted as required by the order under section 1(3)(b), and

(b) that the Corporation did not give notice of intention to carry on business as an investment company under section 266 of the Companies Act 1985.

6 A statement by the Corporation that if registration were to take place at the time of the delivery of documents the amount of the Corporation’s net assets would be not less than the aggregate of its called-up share capital and undistributable reserves assuming—

(a) that shares were allotted as required by the order under section 1(3)(b), and

(b) that the Corporation did not give notice of intention to carry on business as an investment company under section 266 of the [1985 c. 6.] Companies Act 1985.

7 A copy of the Secretary of State’s order under section 1(3).