1974-HKRS28-16-22_Part06 — Page 13

36

(5) The amounts to be shown under each para- graph of subsection (1)–

(a) shall include all relevant sums paid by or

receivable from-

(i) the company; and

(i) the company's subsidiaries; and (iii) any other person;

except sums to be accounted for to the company or any of its subsidiaries or, by virtue of section 163(4), to past or present members of the company or any of its subsidiaries or any class of those members; and

(b) shall distinguish, in the case of the amount to be shown under paragraph (c) of sub- section (1). between the sums respectively paid by or receivable from the company, the company's subsidiaries and persons other than the company and its subsidiaries.

(6) The amounts to be shown under this section for any financial year shall be the sum receivable in respect of that year, whenever paid, or, in the case of sums not receivable in respect of a period, the sums paid during that year, so, however, that where any sums are not shown in the accounts for the relevant financial year on the ground that the person receiving them is liable to account therefor as men- tioned in paragraph (a) of subsection (5), but the liability is thereafter wholly or partly released or is not enforced within a period of two years, those sums shall, to the extent to which the liability is released or not enforced, be shown in the first accounts in which it is practicable to show them or in a statement annexed thereto, and shall be dis- tinguished from the amounts to be shown therein aport from this provision.

(7) Where it is necessary so to do for the purpose of making any distinction required by this section in any amount to be shown thereunder, the directors may apportion any payments between the matters in respect of which they have been paid or are receivable in such manner as they think appro priate.

Statements uangxed to accounts showing certain items to include cor- responding amounts for preceding financial

Year. 1967 c. 81. N. 11.

37

(8) If in the case of any accounts the require- ments of this section are not complied with, it shall be the duty of the auditors of the company by whom the accounts are examined to include in their report thereon, so far as they are reasonably able to do so, a statement giving the required particulars.

(9) In this section any reference to a company's subsidiary-

(a) in relation to a person who is or was, while a director of the company, a director also. by virtue of the company's nomination, direct or indirect, of any other body cor- porate, shall, subject to paragraph (5), include that body corporate, whether or not it is or was in fact the company's sub- sidiary; and

(b) shall for the purposes of subsections (2) and (3) be taken as referring to a subsidiary at the time the services were rendered, and for the purposes of subsection (4) be taken as referring to a subsidiary immediately before the loss of office as director of the company.

161A. (1) Where an item required by section 161 to be shown in a company's accounts or in a state- ment annexed is, in the case of a financial year, shown in such a statement, the corresponding amount for the immediately preceding financial year shall be included in that statement.

(2) If any person being a director of a company fails to take all reasonable steps to secure compliance with the provisions of subsection (1), he shall, in respect of each offence, be liable on summary con- viction to imprisonment for six months and to a fine of ten thousand dollars:

Provided that--

(a) in any proceedings against a person in respect of an offence under this section, it shall be a defence to prove that be had reasonable ground to believe and did believe that a competent and reliable person was charged with the duty of seeing that the