Clause 122

by deleting subsections (1), (2) and (3) and substituting the following subsections:“(1) A copy of the financial statements or, in the case of a parent company, a copy of the consolidated financial statements and balance‑sheet (including every document required by law to be attached thereto), which is duly audited and which (or which but for section 201C) is to be laid before the company in general meeting accompanied by a copy of the auditor’s report thereon shall be sent to all persons entitled to receive notice of general meetings of the company —

unless subsection (2) applies, not less than 14 days before the date of the meeting; or

if a resolution under section 175A is in force, not less than 28 days before the end of the period allowed for the laying of those documents.(2) The financial statements, or consolidated financial statements, balance‑sheet and documents referred to in subsection (1) may be sent less than 14 days before the date of the meeting as required under subsection (1)(a) if all the persons entitled to receive notice of general meetings of the company so agree.(3) Any member of a company (whether he is or is not entitled to have sent to him copies of the financial statements, or consolidated financial statements and balance‑sheet) to whom copies have not been sent and any holder of a debenture shall, on a request being made by him to the company, be furnished by the company without charge with a copy of the last financial statements, or consolidated financial statements and balance‑sheet (including every document required by this Act to be attached thereto) together with a copy of the auditor’s report thereon.(3A) If default is made in complying with subsection (1) or (3), the company and every officer of the company who is in default shall, unless it is proved that the member or holder of a debenture in question has already made a request for and been furnished with a copy of the financial statements, or consolidated financial statements and balance‑sheet, and all documents referred to in subsection (1) or (3), each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $5,000 and also to a default penalty.”; (b)by deleting the words “28 days from” in subsection (4) and substituting the words “14 days after”; (c)by deleting the words “21 days from” in subsection (6) and substituting the words “14 days after”; and

by deleting the word “balance‑sheet” in the section heading and substituting the words “financial statements”.