Clause 34

by deleting subsections (1) and (2) and substituting the following subsections:“(1) The trustee‑manager of a registered business trust may apply to the Authority in writing for an order relieving the trustee‑manager from any requirement of this Act relating to —

the form and content of financial statements or consolidated financial statements (other than a requirement of the Accounting Standards); or

the form and content of the directors’ statement required by section 76(13),and the Authority may make such an order either unconditionally or on condition that the trustee‑manager complies with any other requirements relating to the form and content of financial statements or consolidated financial statements or the directors’ statement that the Authority thinks fit to impose.(2) The Authority may, where it considers it appropriate, make an order in respect of a specified class of registered business trusts relieving the trustee‑manager of a registered business trust in that class from compliance with any specified requirements of this Act relating to —

the form and content of financial statements or consolidated financial statements (other than a requirement of the Accounting Standards); or

the form and content of the directors’ statement required by section 76(13),and the order may be made either unconditionally or on condition that the trustee‑manager complies with any other requirements relating to the form and content of financial statements or consolidated financial statements or the directors’ statement that the Authority thinks fit to impose.”;

by deleting the words “accounts or report” in subsection (3) and substituting the words “financial statements or consolidated financial statements or directors’ statement”; and

by deleting the words “accounts and reports” in the section heading and substituting the words “financial statements and directors’ statement”.