COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 151 Directors' report to be attached to balance sheet.

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 151

Directors' report to be attached to balance sheet.

151.(1) There shall be attached to every balance sheet [laid before a company
in general meeting] a report by the directors with respect to the state of
the company's affairs, the amount, if any, which they recommend should be paid
by way of dividend, and the amount, if any, which they propose to carry to
reserves within the meaning of the Sixth Schedule.

[(2) The said report shall deal, so far as is material for the appreciation of
the state of the company's affairs by its members and will not in the
directors' opinion be harmful to the business of the company or of any of its
subsidiaries, with any change during the financial year in the nature of
the company's business, or in the company's subsidiaries, or in the classes of
business in which the company has an interest, whether as member of another
company or otherwise.]

[(3) If any person being a director of a company fails to take all reasonable
steps to comply with sub-section (1), he shall, in respect of each offence, be
liable on summary conviction to imprisonment for a term not exceeding
six months or to a fine not exceeding two hundred pounds, so, however, that

(a)in any proceedings against a person in respect of an offence under
sub-section (1), it shall be a defence to prove that he had reasonable ground
to believe and did believe that a competent and reliable person was charged
with the duty of seeing that sub-section (1) was complied with and was in a
position to discharge that duty; and

(b)a person shall not be liable to be sentenced to imprisonment for such an
offence unless, in the opinion of the court dealing with the case, the offence
was committed wilfully.]

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 151