Section 88: Periodical disclosure

88. Periodical disclosure (1) Every reporting issuer shall file with the Commission and make public comparative quarterly financial statements prepared in accordance with IFRS and such other standards as may be issued under the Financial Reporting Act, as soon as possible, but not later than 45 days after the end of each quarter. (2) The financial statements under subsection (1) need not be audited. (3) Every reporting issuer shall file with the Commission and make public an annual report which includes audited comparative financial statements prepared in accordance with IFRS and audited in accordance with the International Standards on Auditing, and such other standards as may be issued under the Financial Reporting Act, as soon as possible, but not later than 90 days of its balance sheet date. (4) In the case of a company with a subsidiary, the financial statements shall be consolidated. (5) The annual reports and the financial statements required under this section shall be in such form, and shall include such information, as may be specified in FSC Rules. S7 – 33 [Issue 1] Securities Act (6) Notwithstanding section 115 (4) of the Companies Act, the annual audited financial statements shall be approved by the board of directors. (7) Section 224 of the Companies Act to the extent that it relates to exemptions from accounting and disclosure requirements, and section 356 of the Companies Act shall not be applicable to persons who are subject to the disclosure requirements under this Part. (8) This section shall not apply to a collective investment scheme authorised or recognised under Part VIII.