Section 208 — Companies Act 1993: Obligation to prepare annual report

208 Obligation to prepare annual report (1) Subject to subsection (2) of this section, the board of every company must, within 5 months after the balance date of the company, prepare an annual report on the affairs of the company during the accounting period ending on that date. (2) The board of an exempt company to which section 120(1)(b)(i) of this Act applies, must, within 9 months after the balance date of the company, prepare an annual report on the affairs of the company during the accounting period ending on that date. (3) If the board of a company fails to comply with subsection (1) or subsection (2) of this section, every director of the company commits an offence and is liable on conviction to the penalty set out in section 374(2) of this Act. Section 208 was substituted, as from 2 September 1996, by section 5 Companies Act 1993 Amendment Act 1996 (1996 No 115).