PART III CORPORATE CODE
Reports
Reports: preparation66
1
The directors of an open-ended investment company must—
a
prepare a report (“annual report") for each annual accounting period of the company; and
b
subject to paragraph (2), prepare a report (“half-yearly report") for each half-yearly accounting period of the company.
2
Where a company’s first annual accounting period is a period of less than 12 months, a half-yearly report need not be prepared for any part of that period.
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4
Nothing in this regulation or in regulation 67 prejudices the generality of regulation 6(1).
5
In this regulation any reference to annual and half-yearly accounting periods of a company is a reference to those periods as determined in relation to that company in accordance with F2FCA rules.
Reports: accounts67
1
The annual report of an open-ended investment company must, in respect of the annual accounting period to which it relates, contain accounts of the company.
2
The company’s auditors must make a report to the company’s shareholders in respect of the accounts of the company contained in its annual report.
3
A copy of the auditor’s report must form part of the company’s annual report.
Reports: voluntary revision68
1
If it appears to the directors of an open-ended investment company that any annual report of the company did not comply with the requirements of these Regulations or F2FCA rules, they may prepare a revised annual report.
2
Where copies of the previous report have been laid before the company in general meeting or delivered to the Authority, the revisions must be confined to—
a
the correction of anything in the previous report which did not comply with the requirements of these Regulations or F2FCA rules; and
b
the making of any necessary consequential alterations.
Auditors69
Schedule 5 to these Regulations makes provision with respect to the auditors of open-ended investment companies.