Singapore legislation
Regulation 6
Regulation 6
Additional statements for revised financial statements, etc.
Subregulation 1
Where the financial statements, or the consolidated financial statements or balance sheet, of a VCC are revised under section 202A or 202B(4) of the Companies Act (as applied by section 104 of the VCC Act), the directors of the VCC must, apart from complying with the requirements mentioned in regulation 4, set out in a prominent position in the revised financial statements, or the revised consolidated financial statements or balance sheet —
a statement that the revised financial statements, or the revised consolidated financial statements or balance sheet, for a financial year, replace the original financial statements, or the original consolidated financial statements or balance sheet, for the same financial year specified in the original financial statements, or the original consolidated financial statements and balance sheet;
a statement that the revised financial statements, or the revised consolidated financial statements or balance sheet —
are taken as having been prepared on the date of the original financial statements or the original consolidated financial statements and balance sheet, instead of on the date of revision; and
accordingly do not deal with events after the date of the original financial statements or the original consolidated financial statements and balance sheet;
a statement as to —
any aspect in which the original financial statements, or the original consolidated financial statements or balance sheet, did not, as appear to the directors, comply with the VCC Act; and
any material revision to the original financial statements, or the original consolidated financial statements or balance sheet; and
a statement that the directors have approved the revised financial statements, or the revised consolidated financial statements or balance sheet, and the date on which the revised financial statements, or the revised consolidated financial statements or balance sheet, were approved.
Subregulation 2
In addition to paragraph (1), the directors of the VCC must set out in a prominent position in the new directors’ statement —
the date on which the revised financial statements, or the revised consolidated financial statements or balance sheet, were approved; (b)a statement that the new directors’ statement replaces the directors’ statement;
a statement that the new directors’ statement, together with the revised financial statements, or consolidated financial statements or balance sheet, have been prepared in accordance with these Regulations; and
a statement that the new directors’ statement, other than the matters required to be stated under regulation 4(2)(g)(iii) and (iv) —
is taken as having been prepared on the date of the directors’ statement; and
accordingly does not deal with events after the date of the directors’ statement.
Subregulation 3
If paragraph (1) or (2) is not complied with, the VCC and every director of the VCC who is in default shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $2,000.