Companies Act 2014
Publication of revised financial statements and reports
374. (1) This section has effect where the directors have prepared revised financial statements or a revised directors’ report under section 366 and copies of the original statutory financial statements or original directors’ report have been sent to any person under section 338.
(2) The directors shall send to any such person—
(a) in the case of a revision effected by replacement, a copy of the revised financial statements, or (as the case may be) the revised directors’ report, together with a copy of the statutory auditors’ report on those financial statements, or (as the case may be) on that report, or
(b) in the case of a revision effected by supplementary note, a copy of that note together with a copy of the statutory auditors’ report on the revised financial statements, or (as the case may be) on the revised directors’ report,
not more than 28 days after the date of revision.
(3) The directors shall also, not more than 28 days after the date of revision, send a copy of the revised financial statements or (as the case may be) the revised directors’ report, together with a copy of the statutory auditors’ report on those financial statements or (as the case may be) on that report, to any person who is not a person entitled to receive a copy under section 338 but who is, as at the date of revision—
(a) a member of the company,
(b) a holder of any debentures of the company, or
(c) a person who is entitled to receive notice of general meetings.
(4) If default is made in complying with this section, each of the directors who approved the revised financial statements under section 324 as applied by section 368 or the revised directors’ report under section 332 as applied by section 369 shall be guilty of a category 3 offence.
(5) Where, prior to the date of revision of the original statutory financial statements, the company—
(a) had completed sending copies of those financial statements under section 338, references in this Act to the day on which financial statements are sent under section 338 shall be read as references to the day on which the original statutory statements were sent under that section (applying subsection (8) of it as necessary) despite the fact that those financial statements have been revised, or
(b) had not completed sending copies of those financial statements under section 338, the foregoing references in this Act shall be read as references to the day, or the last day, on which the revised financial statements are sent under this section.
Modifications (not altering text):
Application of subs. (4) extended (1.01.2020) by European Union (Qualifying Partnerships: Accounting and Auditing) Regulations 2019 (S.I. No. 597 of 2019), reg. 42(5)(a), (b), in effect as per reg. 1(2), (3).
(5) (a) A qualifying partnership that fails to comply with any provision referred to in sections 316(3), 325(6), 332(4), 335(3), 335(6), 337(5), 340(7), 343(11), 347(5), 348(6), 374(4), 376(3), 377(7), 1459 or 1460 of the Principal Act as applied by these Regulations commits an offence.
(b) Where an offence under subparagraph (a) is committed by a qualifying partnership and it is proved that the offence was committed with the consent or connivance, or was attributable to any wilful neglect, of a person who was -
(i) a member of the qualifying partnership,
(ii) a director of such a member, or
(iii) a person purporting to act in either such capacity,
that person shall, as well as the qualifying partnership, be guilty of an offence and may be proceeded against and punished as if he or she were guilty of the first-mentioned offence.