Section 306, The Companies Act, 2009

(1) This section shall apply to the publication by acompany of abridged financial statements, that is to say, any balance sheet or profit and loss account relating to a year of the company or purporting to deal with such year, otherwise than as part of the full financial statements (individual or group) to which section 305 applies. (2) The reference in subsection (1) to a balance sheet or profit and loss account, in relation to financial statements published by a holding company, includes an account in any form purporting to be a balance sheet or profit and loss account for the group consisting of the holding company and its subsidiaries. (3) If the company publishes abridged financial statements, it shall publish with those statements, a statement indicating– (a) that the statements are not full financial statements; (b) whether full individual or full group financial statements, according as the abridged statements deal solely with the company’s own affairs or with the affairs of the company and any subsidiaries have been delivered to the Commission or, in the case of an unlimited company exempted under subsection (4) of 296. from the requirement to deliver financial statements, that the company is so exempted; (c) whether the company’s auditors have made a report under section 310 on the company’s financial statements for any year with which the abridged financial statements purport to deal; and (d) whether any report so made was unqualified (meaning that it was a report, without Publication by company fo full individual or group Publication of abridged 232 233 qualification, to the effect that in the opinion of the person making it, the company’s financial statements had been properly prepared). (4) Where a company publishes abridged financial statements, it shall not publish with those statements the report of the auditors as is mentioned in paragraph (c) of subsection (3). (5) A company which contravenes any provision of this section and any officer of it who is in default, shall be guilty of an offence and be liable to a daily default fine of Le.500,000 Audit