Section 837(4)

If that report was qualified— the auditor must have stated in writing (either at the time of his report or subsequently) whether in his opinion the matters in respect of which his report is qualified are material for determining whether a distribution would contravene this Part, and a copy of that statement must— in the case of a private company, have been circulated to members in accordance with section 423, or in the case of a public company, have been laid before the company in general meeting.

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Source: legislation.gov.uk · retrieved 2026-09-04