This document establishes the regulatory framework for the revision of defective annual accounts and reports within corporate entities. The regulations were promulgated by the Secretary of State under the authority of the Companies Act 1989, providing a legal mechanism for companies to correct financial statements that do not comply with statutory requirements. It outlines the specific procedures for voluntary revision and the powers granted to the court to order such revisions when necessary.

Legal professionals and corporate compliance officers utilize this instrument as a foundational reference for understanding the statutory obligations regarding financial reporting errors. The text is highly technical, focusing strictly on the procedural requirements mandated by UK company law during the 1990 period.