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Amendment of section 305 of Principal Act
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26. Section 305 of the Principal Act is amended—
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(a) in subsection (1), by the substitution of “Subject to subsection (14), the notes to the statutory financial statements” for “The notes to the statutory financial statements”,
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(b) in subsection (2), by the substitution of “Subject to subsection (14), the notes to the statutory financial statements” for “The notes to the statutory financial statements”,
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(c) in subsection (6), by the substitution of the following definition for the definition of “share options’:
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“ ‘share options’ means options over quoted shares or shares that are redeemable in cash or puttable in cash.”,
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and
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(d) by the insertion of the following subsection after subsection (13):
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“(14) A company that qualifies for the micro companies regime shall be exempt from the requirements of this section.”.
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