Companies Act 2014 section 208

Condition to be satisfied common to declarations referred to in section 204, 205 or 207

Section 208 sets out the mandatory requirement that directors' declarations made under the summary approval procedure (for capital reductions, treatment of pre-acquisition profits or losses, or members' voluntary windings up) must be supported by an independent auditor's report.

• Directors' declarations under sections 204, 205 or 207 have no legal effect unless accompanied by a qualifying auditor's report
• The report must be drawn up in the prescribed form by a person qualified to be appointed, or to continue to serve, as the company's statutory auditor
• The report must state whether, in the auditor's opinion, the directors' declaration is not unreasonable
• This auditor verification requirement originated in the Company Law Enforcement Act 2001 and was not part of the earlier Companies Act 1963 regime