837. Supplementary accounting statement (division)

(1) This section applies if the last annual accounts of a company involved in the division relate to a financial year ending before—
(a) the date seven months before the first meeting of the company summoned for the purposes of approving the scheme, or
(b) if no meeting of the company is required (by virtue of section 844 or 845), the date six months before the directors of the company adopt the draft terms of the scheme.
(2) If the company has not made public a half-yearly financial report relating to a period ending on or after the date mentioned in subsection (1), the directors of the company must prepare a supplementary accounting statement.
(3) That statement must consist of—
(a) a balance sheet dealing with the state of affairs of the company as at a date not more than three months before the draft terms were adopted by the directors, and
(b) where the company would be required under section 389 (duty to prepare group accounts) to prepare group accounts if that date were the last day of a financial year, a consolidated balance sheet dealing with the state of affairs of the company and the undertakings that would be included in such a consolidation.
(4) The requirements of these Regulations as to the balance sheet forming part of a company's annual accounts, and the matters to be included in notes to it, apply to the balance sheet required for an accounting statement under this section, with such modifications as are necessary by reason of its being prepared otherwise than as at the last day of a financial year.
(5) The provisions of section 399 (approval and signing of accounts) as to the approval and signing of accounts apply to the balance sheet required for an accounting statement under this section.

In this section "half-yearly financial report" means a report of that description required to be made public by any rules or regulations applicable in the Abu Dhabi Global Market to listed companies or, in the case of a non-ADGM company, as may be prescribed by rules made by Board for the purposes of this Part.
(6) The requirement in this section is subject to section 846 (agreement to dispense with reports etc) and section 847 (certain requirements excluded where shareholders given proportional rights).