133Directors’ statement

#### 133 Directors’ statement 133 Directors’ statement > > (1) The directors of a society must cause to be attached to any accounts required to be laid before an annual general meeting, before the auditor reports on those accounts, a statement made in accordance with a resolution of the directors and signed by not less than 2 directors stating whether in the opinion of the directors— > > > > > (a) the statement of financial performance is drawn up so as to give a true and fair view of the profit or loss of the society for the financial year, and > > > > > (b) the statement of financial position is drawn up so as to give a true and fair view of the state of affairs of the society as at the end of the financial year, and > > > > > (c) as at the date of the statement, there are reasonable grounds to believe that the society will be able to pay its debts as and when they fall due. > > > (2) The directors of a society that is a holding society must cause to be attached to group accounts required to be laid before an annual general meeting, before the auditor reports on those accounts, a statement made in accordance with a resolution of the directors and signed by not less than 2 directors stating whether, in the opinion of the directors, the group accounts are so drawn up as to give a true and fair view of— > > > > > (a) the profit or loss of the society and the entities it controlled during all or part of the last financial year, and > > > > > (b) the state of affairs of the society and the entities it controlled as at the end of the last financial year, > > > > so far as they concern members of the society. > > > (3) The directors of a society— > > > > > (a) must, in forming an opinion as to the matters mentioned in subsection (1) (a) and (b) for the purposes of a statement under that subsection, have regard to circumstances that have arisen and information that has become available, since the end of the financial year to which the accounts relate, being circumstances or information that would, if the accounts were being prepared at the time the statement is made, have affected the determination of an amount or a particular in those accounts, and > > > > > (b) must, if adjustments have not been made in those accounts to reflect circumstances or information of a kind mentioned in paragraph (a), being circumstances or information relevant to an understanding of those accounts, or of an amount or particular in those accounts, include in the statement such information and explanations as will prevent those accounts, or that amount or particular, from being misleading as a result of those adjustments not having been made. > > > (4) The directors of a society that is a holding society— > > > > > (a) must, in forming an opinion as to the matters mentioned in subsection (2) (a) and (b) for the purposes of a statement under that subsection, have regard to circumstances that have arisen, or information that has become available, since— > > > > > > > (i) in the case of circumstances or information relating to the society—the end of the financial year of the society to which the group accounts relate, or > > > > > > > (ii) in the case of circumstances or information relating to an entity controlled by the society—the end of the financial year of the entity to which the group accounts relate, > > > > > > being circumstances or information that would, if the group accounts were being prepared at the time the statement is made, have affected the determination of an amount or a particular in those group accounts, and > > > > > (b) must, if adjustments have not been made in those group accounts to reflect circumstances or information of a kind mentioned in paragraph (a), being circumstances or information relevant to an understanding of those group accounts, or of an amount or particular in those group accounts, include in the statement such information and explanations as will prevent those group accounts, or that amount or particular, from being misleading as a result of those adjustments not having been made.