“FRS–29 means the financial reporting standard known as Financial Reporting Standard No 29, approved under the Financial Reporting Act 1993”.

“11 Further condition relating to prospective financial statements

• The exemptions in clauses 5 and 7 are subject to the further condition that the registered prospectus for the offer of the specified equity securities or the specified debt securities (as the case may be) contains, or is accompanied by, a copy of—

  • “(a) a prospective consolidated statement of financial position for the amalgamated company as at the date on which the amalgamation is proposed to take effect, that complies with FRS–29; and

  • “(b) prospective consolidated statements of financial position, financial performance, and cash flows for 1 or more future accounting periods of the amalgamated company that in each case—

    • “(i) are prepared as if the amalgamation had already been effected; and

    • “(ii) comply with FRS–29.”