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    2006-06-30

CIS 10.2 Preparation of annual and half-yearly reports

Preparation by the manager of an AUT of annual and half-yearly reports

CIS 10.2.1R
  1. (1)

    This rule (CIS 10.2.1 R) applies to a manager of an AUT.

  2. (2)

    The manager must, in relation to each annual accounting period and half-yearly accounting period, prepare a report in respect of the period concerned.

  3. (3)

    Where an AUT's first annual accounting period is a period of less than 12 months, a half-yearly report need not be prepared for any part of that period.

Preparation by the directors of an ICVC of annual and half-yearly reports

CIS 10.2.2G
  1. (1)

    This guidance (CIS 10.2.2 G) applies to the directors of an ICVC.

  2. (2)

    Requirements for the preparation of annual and half-yearly reports are contained in the OEIC regulations. Those regulations make the directors of an ICVC responsible for the preparation of annual and half-yearly reports on the ICVC (see regulation 66 (Reports: preparation)). A half-yearly report need not be prepared where an ICVC's first annual accounting period is less than 12 months.

  3. (3)

    The OEIC regulations (regulation 66 Reports: preparation), regulation 67 (Reports: accounts) and regulation 68 (Reports: voluntary revision) also contain a number of other requirements relating to reports and accounts of an ICVC. These include, for example, requirements that:

    1. (a)

      the directors must lay copies of the annual report before the ICVC in general meeting; and

    2. (b)

      every annual report is to contain accounts of the ICVC and a report by the auditor to the ICVC'sshareholders.