Companies and Securities Legislation (Miscellaneous Amendments) Act 1983 No. 108 of 1983 - SECT 83 Failure to comply with this Division

Companies and Securities Legislation (Miscellaneous Amendments) Act 1983 No. 108 of 1983 - SECT 83

83. Section 276 of the Principal Act is amended-

(a) by omitting from sub-section (1) ''the succeeding provisions of''; and

   (b)  by inserting after sub-section (2) the following sub-section:

''(2A) In any proceedings against a person for failure to take all reasonable
steps to comply with, or to secure compliance with, or for having knowingly
been the cause of any default under, any of the preceding provisions of this
Division (including any of those provisions as applying by virtue of section
158) relating to the accounts of a company or the group accounts of a holding
company by reason that the accounts or group accounts, as the case may be,
have not been made out in accordance with an applicable approved accounting
standard, the onus of proving that the accounts or group accounts, as the case
may be, would not, if made out in accordance with that accounting standard,
have given a true and fair view of the matters required by section 269 to be
dealt with in the accounts or group accounts lies on that person.''.