Clause 24

Section 201 of the Companies Act (Cap. 50) is amended by deleting subsection (20) and substituting the following subsection:“(20) In respect of a company that is registered as a charity or approved as an institution of a public character under the Charities Act (Cap. 37), the requirements of this section as to the form and content of a company’s accounts or consolidated accounts being in compliance with the Accounting Standards shall apply subject to any modification prescribed under section 13(1)(f) of that Act in respect of such a company.”.