Historical identity and scope change
The amendment to Rg 4 was made on 21 December, gazetted on 31 December 2015 and commenced on 3 January 2016. It deletes listed public from regulations 3(1) and 5(1). Other conditions in the principal regulations are not reproduced, so the deletion is not presented here as unconditional permission for every company to send summaries.
Full financial statements and report
The new definition replaces full accounts and reports. For a non-parent it covers duly audited annual statements, all legally required attachments and the auditor’s report, which are to be laid at a general meeting or would be but for section 201C. For a parent it covers duly audited consolidated statements and balance sheet with required attachments and corresponding auditor’s report on the same meeting basis. The parent/non-parent distinction is preserved.
Warning and responsible terminology
Regulation 3(1)(c) changes person to director. The summary must prominently state that it lacks enough information for a full understanding of company/group position and performance, and readers should consult full annual statements and the auditors’ report. This explanation paraphrases the statutory warning; anyone preparing an actual statutory summary should use the original prescribed wording.
Terminology throughout the regulations
The new full financial statements and report wording replaces the old phrase in regulations 3(1), (1)(e), (1)(f) and (2), regulation 4(1)–(3), regulation 5(3) and First Schedule paragraph D. These are coordinated reference changes, not separate new types of financial statements. The source prints regulation 3 amendment letters a–f and h, with no g text.
All five directors’ statement particulars
First Schedule paragraph C now requires director names at statement date; information on options granted to directors; directors’ interests in company shares and debentures; arrangements enabling directors to acquire shares/debentures in the company and principal subsidiaries; and, for listed companies, audit-committee members’ names. The fifth item is specifically listed-company information.
Additional documents and listed-company information
Replacement Second Schedule requires a summary of significant related-party dealings disclosed in the full-report notes. For listed companies it additionally requires the chairman’s statement covering material changes in group structure, accounting policies, asset values, financial position such as share issues/capital reduction, and the business-prospects operating environment; material acquisitions/disposals; and a business review and future developments for the covered period. A list of substantial shareholders’ shareholdings is also required for listed companies.
Official source
This article independently explains the substantive contents of the official PDF, including the relevant conditions, procedures and annexes. The linked document remains the authoritative source for its original wording, and later changes should be checked separately.
Read the official PDF ↗