Paragraph 1

United Kingdom

An operating and financial review must be a balanced and comprehensive analysis, consistent with the size and complexity of the business, of—

(a)

the development and performance of the business of the company during the financial year,

(b)

the position of the company at the end of the year,

(c)

the main trends and factors underlying the development, performance and position of the business of the company during the financial year, and

(d)

the main trends and factors which are likely to affect the company's future development, performance and position,

prepared so as to assist the members of the company to assess the strategies adopted by the company and the potential for those strategies to succeed.

Notes on Schedule 7ZA

Textual amendments

F1: Sch. 7ZA omitted (12.1.2006) by virtue of The Companies Act 1985 (Operating and Financial Review) (Repeal) Regulations 2005 (S.I. 2005/3442), reg. 2(2)(a), Sch. 1 para. 17
F2: Sch. 7ZA inserted (22.3.2005) by The Companies Act 1985 (Operating and Financial Review and Directors' Report etc.) Regulations 2005 (S.I. 2005/1011), reg. 9