(1) Section 89C (provision of information by issuers of transferable securities) is amended as follows.

(2) In subsection (2), for paragraphs (a) and (aa) (except the final "and") substitute -

"(a) an annual financial report which complies with subsection (5) and with such other requirements as may be specified;

(aa) in the case of an issuer which is -

(i) a mining or quarrying undertaking, or

(ii) a logging undertaking,

reports complying with specified requirements on payments to governments;".

(3) In subsections (3) and (4)(a), for "information required by Article 5 of the transparency obligations directive" substitute "a half-yearly financial report which covers the first 6 months of the financial year and complies with subsection (6) and with such other requirements as may be specified".

(4) After subsection (4) insert -

"(5) An issuer’s annual financial report must include -

(a) audited financial statements complying with specified requirements,

(b) a management report complying with specified requirements, and