Clause 118

by deleting sub‑paragraph (vi) of subsection (5)(a) and substituting the following sub‑paragraph:“(vi)the financial statements of the company and, if it is a parent company, the consolidated financial statements, submitted to it by the company or the parent company, and thereafter to submit them to the directors of the company or parent company; and”;

by deleting subsection (9) and substituting the following subsection:“(9) Where the directors of a company or of a parent company are required to make a statement under section 201(16) and the company is a listed company, the directors shall describe in the statement the nature and extent of the functions performed by the audit committee pursuant to subsection (5).”; and

by deleting subsection (10).