Search Legislation

The Companies Act 1985 (Operating and Financial Review and Directors' Report etc.) Regulations 2005

What Version

 Help about what version
  • Latest available (Revised)
  • Original (As made)

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Amendments to Schedule 7

This sectionnoteType=Explanatory Memorandum has no associated

7.  (1)  Schedule 7 to the 1985 Act (matters to be dealt with in directors' report) is amended as follows.

(2) In paragraph 1 (asset values)(1)—

(a)in sub-paragraph (2) omit “or of any of its subsidiary undertakings”, and

(b)after that sub-paragraph insert—

(3) In relation to a group directors' report sub-paragraph (2) has effect as if the reference to the fixed assets of the company was a reference to the fixed assets of the company and of its subsidiary undertakings included in the consolidation.

(3) In paragraph 5A (use of financial instruments)(2)—

(a)in sub-paragraph (1) omit—

(i)“and by its subsidiary undertakings”, and

(ii)“and its subsidiary undertakings included in the consolidation” in each place where it occurs, and

(b)after that sub-paragraph insert—

(1A) In relation to a group directors' report sub-paragraph (1) has effect as if the references to the company were references to the company and its subsidiary undertakings included in the consolidation.

(4) In paragraph 6 (miscellaneous matters)(3)—

(a)make the existing provision sub-paragraph (1),

(b)in that sub-paragraph omit—

(i)in paragraph (a), “or any of its subsidiary undertakings”,

(ii)in paragraph (b), “and of its subsidiary undertakings”, and

(iii)in paragraph (c), “and its subsidiary undertakings”, and

(c)after that sub-paragraph insert—

(2) In relation to a group directors' report paragraphs (a), (b) and (c) of sub-paragraph (1) have effect as if the references to the company were references to the company and its subsidiary undertakings included in the consolidation.

(1)

Paragraph 1 of Schedule 7 was amended by regulations 14(4)(a) and 15(3) of S.I. 1996/189.

(2)

Paragraph 5A was inserted by regulation 13(1) of S.I. 2004/ 2947.

(3)

Paragraph 6 was amended by section 8(2) of, and paragraph 2(2) of Schedule 5 to, the Companies Act 1989, and by regulations 3 and 8(a) of S.I. 1992/3178.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enactedversion that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources