(1) The directors of an open-ended investment company must -
(a) prepare a report ("annual report") for each annual accounting period of the company; and
(b) subject to paragraph (2), prepare a report ("half-yearly report") for each half-yearly accounting period of the company.
(2) Where a company’s first annual accounting period is a period of less than 12 months, a half-yearly report need not be prepared for any part of that period.
(3) [deleted]
(4) Nothing in this regulation or in regulation 67 prejudices the generality of regulation 6(1).
(5) In this regulation any reference to annual and half-yearly accounting periods of a company is a reference to those periods as determined in relation to that company in accordance with FCA rules.