Section 696 of The Companies Act No. 17 of 2015: Cabinet Secretary may give notice in respect of company's financial statements or reports that are believed to be defective
(1) If—
(a) copies of the financial statement or a directors’ report for a financial year of a company have been sent out under section 662; or
(b) a copy of that financial statement or report has been lodged with the Registrar or, in the case of a public company, laid before the company in general meeting, and it appears to the Cabinet Secretary that that statement or report does not or may not comply with the requirements of this Act, the Cabinet Secretary may give notice to the directors of the company specifying in what respects it appears that the statement or report does not or may not so comply.
(2) A notice under subsection (1) is effective only if it specifies a period of notless than one month for the directors to give an explanation of the relevant financial statement or report or to prepare a revised financial statement or report.
(3) In this section and the other sections of this Division, "the requirements of this Act" includes the prescribed accounting standards.
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