The Companies Act 1985 (Amendment of Sections 250 and 251) Regulations 1992

Amendment of section 251

3.—(1) Section 251 of the Companies Act 1985 (provision of summary financial statement)(1) is amended as follows.

(2) In subsection (1)—

(a) after the word “shares” in both places where it occurs insert “or debentures”, and

(b) for “members of the company” substitute “entitled persons”.

(3) For the second paragraph of subsection (1), substitute the following:—

“In this section—

• “entitled persons”, in relation to a company, means such of the persons specified in paragraphs (a) to (c) of subsection (1) of section 238 as are or would apart from this section be entitled to be sent copies of those documents relating to the company which are referred to in that subsection; and

• “listed” means admitted to the Official List of The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited.”.

(4) In subsection (2)—

(a) for “any member of the company” and “a member of the company” substitute “any entitled person” and “an entitled person” respectively, and

(b) after “ascertained” insert “(whether before or after he becomes an entitled person)”.

(5) In subsection (7), for “members of a company” substitute “entitled persons”.

(1)

Section 251 was inserted into the Companies Act 1985 by sections 1 and 15 of the Companies Act 1989.