PART 1 INTRODUCTION

Citation, commencement and application

1.—(1) These Regulations may be cited as the Companies (Revision of Defective Accounts and Reports) Regulations 2008.

(2) These Regulations come into force on 6th April 2008 and apply in relation to companies’ financial years beginning on or after that date.

Interpretation

2.—(1) In these Regulations—

“the 2006 Act” means the Companies Act 2006;

“date of the original annual accounts” means the date on which the original annual accounts were approved by the board of directors under section 414 of the 2006 Act (approval and signing of accounts);

“date of the original directors’ remuneration report” means the date on which the original directors’ remuneration report was approved by the board of directors under section 422 of the 2006 Act (approval and signing of directors’ remuneration report);

“date of the original directors’ report” means the date on which the original directors’ report was approved by the board of directors under section 419 of the 2006 Act (approval and signing of directors’ report);

“date of revision” means the date on which revised accounts are approved by the board of directors under regulation 4 or (as the case may be) a revised directors’ report or directors’ remuneration report is approved by them under regulation 5 or 6;

“original”, in relation to annual accounts, or a directors’ report or directors’ remuneration report, means the annual accounts or (as the case may be) directors’ report or directors’ remuneration report which are the subject of revision by, respectively, revised accounts or a revised report and, in relation to abbreviated accounts or a summary financial statement, means abbreviated accounts or a summary financial statement based on the original annual accounts or directors’ report or directors’ remuneration report;

“revised accounts” mean revised annual accounts of a company prepared by the directors under section 454 of the 2006 Act (voluntary revision of accounts etc), either through revision by replacement or revision by supplementary note; in the latter case the revised accounts comprise the original annual accounts together with the supplementary note;

“revised report” means a revised directors’ report or directors’ remuneration report prepared by the directors under section 454 of the 2006 Act, either through revision by replacement or revision by supplementary note; in the latter case the revised report comprises the original directors’ report or directors’ remuneration report together with the supplementary note;

“revision by replacement” means revision by the preparation of a replacement set of accounts, directors’ report or directors’ remuneration report, in substitution for the original annual accounts, directors’ report or directors’ remuneration report; and

“revision by supplementary note” means revision by the preparation of a note indicating corrections to be made to the original annual accounts, directors’ report or directors’ remuneration report.

(2) References in these Regulations to a member or members of a company include a reference to a person nominated to enjoy information rights under section 146 of the 2006 Act (traded companies: nomination of persons to enjoy information rights).

(3) References in these Regulations to provisions or requirements of the 2006 Act as to matters to be included in annual accounts and reports include relevant provisions of the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008(2) and the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008(3).