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Brief
The document outlines the regulations for annual statements required by trust and loan companies under the Trust and Loan Companies Act.
The Annual Statement (Trust and Loan Companies) Regulations, made under the Trust and Loan Companies Act, prescribe the contents of annual statements to be submitted by trust and loan companies. The regulations specify that the prescribed statements must include a balance sheet, statement of income, statement of cash flows, statement of changes in shareholders' equity, and statement of comprehensive income for the financial year.
The regulations apply to all trust and loan companies and are intended to provide transparency and accountability in the reporting of their financial activities. The contents of the annual statements are designed to give a comprehensive picture of a company's financial position and performance over the course of a year.
The regulations came into force on June 1, 2011, and supersede any previous regulations or guidelines related to annual statements for trust and loan companies.
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