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    2016-07-17

DTR 4.3A Reports on payments to governments

Application

DTR 4.3A.1RRP

1Subject to the exemptions set out in DTR 4.4 (Exemptions) this section applies to an issuer:

  1. (1)

    active in the extractive or logging of primary forest industries;

  2. (2)

    whose transferable securities are admitted to trading; and

  3. (3)

    whose Home State is the United Kingdom.

DTR 4.3A.2RRP

In this section references to an “issuer active in the extractive or logging of primary forest industries” are to an issuer:

  1. (1)

    active in the extractive industry as defined in article 41(1) of the Accounting Directive; or

  2. (2)

    active in the logging of primary forests as defined in article 41(2) of the Accounting Directive.

DTR 4.3A.3GRP

An issuer is considered to be active in the extractive or logging of primary forest industries if any of its subsidiary undertakings are:

  1. (1)

    active in the extractive industry as defined in article 41(1) of the Accounting Directive; or

  2. (2)

    active in the logging of primary forests as defined in article 41(2) of the Accounting Directive.

In this guidance “subsidiary undertaking” has the meaning given in regulation 2 of the Reports on Payments to Governments Regulations 2014 (SI 2014/3209).

[Note: article 44(1) of the Accounting Directive]

Preparation and publication of reports on payments to governments

DTR 4.3A.4RRP

An issuer must prepare a report annually on payments made to governments for each financial year.

[Note: article 6 of the TD]

DTR 4.3A.5RRP

The report on payments to governments must be made public at the latest six months after the end of each financial year.

[Note: article 6 of the TD]

DTR 4.3A.6RRP

An issuer must ensure that the report on payments to governments remains publicly available for at least ten years.

[Note: article 6 of the TD]

Content of reports on payments to governments

DTR 4.3A.7RRP
  1. (1)

    The report on payments to governments must be prepared in accordance with Chapter 10 of the Accounting Directive.

  2. (2)

    Payments to governments must be reported at consolidated level.

[Note: article 6 of the TD]

DTR 4.3A.8GRP

The FCA considers a report on payments to governments which is prepared in accordance with the Reports on Payments to Governments Regulations 2014 (SI 2014/3209) to be in compliance with DTR 4.3A.7 R (1).

Responsibility

DTR 4.3A.9RRP

The issuer is responsible for all information drawn up and made public in accordance with this section.

[Note: article 7 of the TD]