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Section 84
Arrangement for sending summary financial statement to shareholders
: (1) Notwithstanding anything else written in this Act, a company listed on the stock market shall not send annual financial statement and director's report to shareholders or debenture holders. However, when sending the notice of the annual general meeting, a brief annual financial statement prepared according to sub-section (2) and (3) must be sent to each shareholder.
(2) The brief financial statement to be sent in accordance with the restrictive phrase of sub-section (1) shall be prepared on the basis of the company's annual financial statement and directors' report. The format of such statement shall be as prescribed by the office based on the suggestion of the agency designated to determine the accounting value in accordance with the prevailing law.
(3) In addition to other things, the following things should be mentioned in the brief annual financial statement:-
(a) That the Summary Annual Financial Statement is only a summary of the Company's Annual Financial Statements and Directors' Report,
(b) the company's auditor's opinion on whether the summary annual financial statement is in accordance with the company's annual financial statement and director's report and whether the statement is in accordance with the format prescribed in accordance with this section,
(c) Whether or not the auditor has expressed any doubt about the company's annual financial statements and, if any, the full description of such doubt and the materials necessary to understand such doubt,
(d) If the auditor mentions in his report that the company's accounts and accounting-related details are incomplete or that the company's accounts do not match the records and details kept by the company, or that the requested information and clarifications have not been received, the full details thereof.
(4) According to sub-section (1), instead of sending the brief annual financial statement to the shareholders at their personal address, the company may publish the notice of the general meeting on the matter at least twice in the daily newspapers of the national level.
(5) It is not necessary to send the summary annual financial statement to the personal address of the shareholder if it is published in accordance with sub-section (4).
(2) The brief financial statement to be sent in accordance with the restrictive phrase of sub-section (1) shall be prepared on the basis of the company's annual financial statement and directors' report. The format of such statement shall be as prescribed by the office based on the suggestion of the agency designated to determine the accounting value in accordance with the prevailing law.
(3) In addition to other things, the following things should be mentioned in the brief annual financial statement:-
(a) That the Summary Annual Financial Statement is only a summary of the Company's Annual Financial Statements and Directors' Report,
(b) the company's auditor's opinion on whether the summary annual financial statement is in accordance with the company's annual financial statement and director's report and whether the statement is in accordance with the format prescribed in accordance with this section,
(c) Whether or not the auditor has expressed any doubt about the company's annual financial statements and, if any, the full description of such doubt and the materials necessary to understand such doubt,
(d) If the auditor mentions in his report that the company's accounts and accounting-related details are incomplete or that the company's accounts do not match the records and details kept by the company, or that the requested information and clarifications have not been received, the full details thereof.
(4) According to sub-section (1), instead of sending the brief annual financial statement to the shareholders at their personal address, the company may publish the notice of the general meeting on the matter at least twice in the daily newspapers of the national level.
(5) It is not necessary to send the summary annual financial statement to the personal address of the shareholder if it is published in accordance with sub-section (4).