United Kingdom Statutory Instruments

(a) that they are not the society's statutory accounts,

(b) whether statutory accounts dealing with any financial year with which the non-statutory accounts purport to deal have been delivered to the Authority,

(c) whether the society's auditors have made a report under the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993,

(d) whether any such auditors' report—


(i) was qualified or unqualified, or included a reference to any matters to which the auditors drew attention by way of emphasis without qualifying the report, or

(ii) contained a statement under section 237(2) or (3) of the Companies Act 1985 as applied to industrial and provident societies by the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993 (accounting records or returns inadequate, accounts not agreeing with records and returns or failure to obtain necessary information and explanations),



and it shall not publish with the non-statutory accounts any auditors' report under the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993.

    (5) For the purposes of this section a society shall be regarded as publishing a document if it publishes, issues or circulates it or otherwise generally makes it available for public inspection in a manner calculated to invite members of the public generally, or any class of members of the public, to read it.

    (6) References in this section to a society's statutory accounts are to its individual or group accounts for a financial year as required to be prepared by the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993; and references to the publication by a society of "non-statutory accounts" are to the publication of—



(a) any balance sheet or profit and loss account relating to, or purporting to deal with, a financial year of the society, or

(b) an account in any form purporting to be a balance sheet or profit and loss account for the group consisting of the society and its subsidiary undertakings relating to, or purporting to deal with, a financial year of the society,



otherwise than as part of the society's statutory accounts.""

Gerry Sutcliffe
Parliamentary Under-Secretary of State for Employment Relations and Consumers Department of Trade and Industry

13th July 2005

     ensure the effective application of, and implement Member State options in, EC Regulation No. 1606/2002 of the European Parliament and of the Council of 19th July 2002 on the application of international accounting standards (Official Journal No. L243/1 of 11th September 2002)("the IAS Regulation");

     implement Directive 2003/51/EEC of the European Parliament and of the Council of 18th June 2003 amending Directives 78/660/EEC, 83/349/EEC, 86/635/EEC and 91/674/EEC on the annual and consolidated accounts of certain types of companies, banks and other financial institutions and insurance undertakings (Official Journal No. L 178/16 of 17th July 2003 ("the Accounts Modernisation Directive").