461 Group financial statements must be prepared


Every FMC reporting entity that has, on the balance date of the entity, 1 or more subsidiaries must ensure that, within 4 months after that balance date, group financial statements that comply with generally accepted accounting practice are—


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


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


Section 460 does not apply to an FMC reporting entity in relation to a balance date if the entity has, on that date, 1 or more subsidiaries (and is, accordingly, required to prepare group financial statements under subsection (1)).


The board of an FMC reporting entity must ensure that the balance date of the FMC reporting entity is the same as the balance date of its subsidiaries.


This section is subject to section 461A(4).

Compare: 1993 No 106 ss 7(8), 13(1)

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