Clause 20

by inserting, immediately after subsection (2), the following subsection:“(2A) Every public company shall devise and maintain, during the financial year of the company, a system of internal accounting controls sufficient to provide a reasonable assurance that —

assets are safeguarded against loss from unauthorised use or disposition; and

transactions are properly authorised and that they are recorded as necessary to permit the preparation of true and fair profit and loss accounts and balance-sheets and to maintain accountability of assets.”; and

by deleting the marginal note and substituting the following marginal note: “Accounting records and systems of control.”.