Financial Markets Conduct Act 2013

461A Financial statements for registered schemes and funds

(1)

This section applies to every manager of a registered scheme.

(2)

If the liabilities of the manager and the scheme are not limited to a particular group of assets (a separate fund), the manager must ensure that, within 4 months after the balance date of the scheme, financial statements that comply with generally accepted accounting practice are—

(a)

completed in relation to the scheme and that balance date; and

(b)

dated and signed on behalf of the manager by 2 directors of the manager or, if the manager has only 1 director, by that director.

(3)

If the liabilities of the manager or the scheme are limited to a separate fund, the manager must ensure that, within 4 months after the balance date of the scheme, financial statements that comply with generally accepted accounting practice are—

(a)

completed in relation to the scheme and that balance date; and

(b)

completed in relation to the separate fund and that balance date; and

(c)

dated and signed on behalf of the manager by 2 directors of the manager or, if the manager has only 1 director, by that director.

(4)

If the manager is an FMC reporting entity by reason only of being a manager of a restricted scheme, the manager—

(a)

is required to comply with this section; but

(b)

is not required to comply with sections 460 and 461.

Compare: 1993 No 106 s 9A(1), (2)

Section 461A: inserted, on 1 April 2014, by section 48 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).

Section 461A(2): amended, on 9 August 2017, by section 80 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).

Section 461A(3): amended, on 9 August 2017, by section 80 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).