Why the revision framework was introduced
Section 121 of the Companies (Amendment) Act 2014 introduced sections 202A and 202B, with the supporting 2018 regulations taking effect on 20 April 2018. The note explains that directors previously needed a court order under section 12B before filing revised statements; section 202A provides a voluntary route when directors identify non-compliance.
Revision is confined to defects and their consequences
Directors may revise statements for any financial year where they appear not to comply with the Companies Act, including Accounting Standards. The permitted changes cover the non-compliant aspects and necessary consequential revisions. It is not a general opportunity to remake the accounts using later information.
Original preparation date and accounting standards remain
Revised statements are treated as prepared on the original preparation date and do not address events occurring after that date. The Accounting Standards applied to the original statements continue to apply to the revised statements. These rules preserve the original reporting frame while correcting defects.
New documents and fresh relief applications
Attach a new directors’ statement and an amended auditor’s report. Relief previously granted by the Registrar for the original statements does not automatically extend to the revised statements or new directors’ statement. Fresh applications are required where that relief is needed.
Who receives the revised package and when
Directors must take reasonable steps to send the revised statements, new directors’ statement and amended auditor’s report within 30 days after revision to everyone who received the original statements and everyone entitled to notice of a general meeting at the revision date. Both groups matter, including people who became entitled after the original distribution.
Filing and the next general meeting
File the revised statements with the Registrar within 30 days after revision. Separately, lay them before the next general meeting held after revision. Filing with ACRA and putting the statements before members are separate steps, not interchangeable alternatives.
Section 202B and the court route
Section 202B allows the Registrar to seek a court declaration of non-compliance and an order requiring directors to revise the statements. The court determines compliance and may give directions about the manner of revision. This complements the voluntary section 202A route where defects require enforcement action.
The source’s supporting resources
The note points to the 2018 commencement notification, the 2018 revision regulations and the separate detailed guidance for companies. Its header contains an unfilled last-updated placeholder, so this article attributes the framework’s stated commencement date without inventing a later update date.
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 ↗