This provides that where the particulars required to be disclosed in annual accounts are not supplied it will be the auditor's duty to supply them in the report on the accounts as far as this is possible. This is an attempt to ensure that at least some disclosures take place even though the directors and the company have failed to comply with the disclosure requirements. This provision is not new to company law as the same kind of provision is already contained in section 192 (3) — particulars of loans to directors to be given in accounts. Section 192 of the Principal Act is effectively being repealed by section 44 so section 41 of the Bill continues the auditor's duty to disclose loans particulars where the directors fail to do so.
SECTION 40
Section 40 deleted.
SECTION 41.
Question proposed: "That section 41 stand part of the Bill."
Question put and agreed to.