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Paragraph 1

Original text. Later amendments are not shown.

The summary financial statement of a listed public company, other than:

(a)

a banking or insurance company the directors of which are not required to prepare group accounts under Part VII of the unamended 1985 Act and, being entitled to do so, have prepared special category individual accounts thereunder for the financial year in question; and

(b)

a company the directors of which are required to prepare group accounts under Part VII of the unamended 1985 Act and, being entitled to do so, have prepared special category group accounts thereunder for the financial year in question,

shall be in the form, and contain the information, required by Schedule 1 to these Regulations, so far as applicable to such a company, with the following modifications:

(i)

paragraph 2(a) shall apply as if the reference therein to section 234(1)(a) of the 1985 Act was a reference to section 235(1)(a) or (in so far as it requires a directors' report to deal with the company’s state of affairs) to section 261(2), as may be appropriate, of the unamended 1985 Act;

(ii)

paragraph 2(b) and (c) shall not apply where the company’s individual accounts are special category;

(iii)

paragraph 2(d) shall apply as if the reference therein to section 234(2) of the 1985 Act was a reference to section 235(2) of the unamended 1985 Act;

(iv)

paragraph 3(1) shall apply as if the words in round brackets in paragraph 3(1)(b) read as follows: “income from shares in group and related companies”;

(v)

paragraph 3(2) shall not apply, but the summary financial statement of a company which is required to prepare group accounts under Part VII of the unamended 1985 Act shall contain a summary consolidated profit and loss account for the group showing the matters required by paragraph 3(1), in the order and under the headings required by that paragraph, save that in place of the information required by paragraph 3(1)(b) there shall be shown, under an appropriate heading, format 1, item 8; format 2, item 10; format 3, item B4; format 4, item B6 (Income from shares in related companies);

(vi)

paragraph 3(3) shall apply as if the reference therein to paragraph 1(1) of Part I of Schedule 6 to the 1985 Act was a reference to paragraph 22(1) of Schedule 5 to the unamended 1985 Act;

(vii)

paragraph 4(2) shall not apply, but the summary financial statement of a company which is required to prepare group accounts under Part VII of the unamended 1985 Act shall contain a summary consolidated balance sheet for the group showing the matters required by paragraph 4(1), in the order and under the headings required by that paragraph;

(viii)

where, in the case of a company the directors of which are required to prepare group accounts under Part VII of the unamended 1985 Act, the full group accounts of the company are prepared in an alternative form permitted by section 229(6) of the unamended 1985 Act, paragraphs 3(2) and 4(2) shall not apply, but the summary financial statement for that company shall contain:

  • a summary profit and loss account for the group showing the information required by paragraph 3(1) with such modifications as are required to summarise appropriately the profit or loss of the group;

  • a summary balance sheet for the group showing the information required by paragraph 4(1) with such modifications as are required to summarise appropriately the state of affairs of the group;

and as if the other references in that Schedule to provisions in Part VII of the 1985 Act were references to those provisions in the unamended 1985 Act.