Conditions that must be complied with for dispensation of sending of summary financial statements
5.—(1) In relation to regulations 3(1)(f)(iii) and 4(3)(d)(ii), a company may not dispense with the sending of a summary financial statement to an entitled person unless the following conditions have been complied with:
(a)
the company must have sent a notice under regulation 4(3) to the entitled person which was accompanied by a printed card or form in respect of which any postage necessary for its return to the company had been paid by the company and which was worded so as to enable the entitled person, by marking a box and returning the card or form, to notify the company that he does not wish to receive the summary financial statements for future financial years in accordance with regulation 4(3)(d)(ii); and
(b)
the entitled person must have notified the company in writing that he does not wish to receive the summary financial statements for future financial years.
[S 836/2015 wef 03/01/2016]
(2) The receipt by the company of a notification given by an entitled person that he does not wish to receive the summary financial statements for future financial years shall be deemed to be conclusive evidence of a request in writing by the entitled person for the purposes of paragraph (1)(b) and shall remain effective until expressly revoked by him, in writing or otherwise.
(3) The company shall, with respect to all future financial years, continue to give an entitled person who has notified it that he does not wish to receive the summary financial statements for future financial years, the opportunity to elect to receive free of charge the summary financial statements or copies of the full financial statements and report with respect to those future financial years.