Companies Act 1976
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Change 1
10 Accounting reference period of oversea company
(1) Sections 2 and 3 above shall apply in relation to an oversea company subject to the following modifications. (2) The reference in subsection (1) of section 2 above to the date of the incorporation of the company shall be construed in relation to an oversea company as referring to the date on which a place of business in Great Britain is or was established by the company. (3) Subject to section 3 above, the first accounting reference period of an oversea company shall be, instead of the period mentioned in subsection (4) of section 2 above, such period ending with the company's accounting reference date as— (a) begins or began on the day after the date to which the last profit and loss account of the company of which a copy was delivered to the registrar of companies before the coming into operation of section 1 above (whether delivered in the year immediately before the coming into operation of that section or earlier) is or was made up ; or (b) if no profit and loss account of the company was so delivered before the coming into operation of that section, begins or began on a date determined by the company in accordance with subsection (4) below, whether that date is or was a date after or a date before the coming into operation of that section; and (in either case) is or was a period exceeding six months and not exceeding eighteen months. (4) The date determined by an oversea company for the purposes of subsection (3)(b) above shall be a date not later than the date on which a place of business in Great Britain is or was established by the company. (5) The reference in subsection (6) of section 2 above to the requirements of sectidn 1 above shall be construed in relation to an oversea company as a reference to the requirements of section 9 above. (6) References in sections 2 and 3 above to a period which is or was an accounting reference period of a company by virtue of section 2 above shall be construed as including references to a period which is or was an accounting reference period of an oversea company by virtue of subsection (3) above. (7) Subsections (6) and (7) of section 3 above shall be omitted in the application of that section in relation to an oversea company.
10 Accounting reference period of oversea company
(1) Sections 2 and 3 above shall apply in relation to an oversea company subject to the following modifications. (2) The reference in subsection (1) of section 2 above to the date of the incorporation of the company shall be construed in relation to an oversea company as referring to the date on which a place of business in Great Britain is or was established by the company. (3) Subject to section 3 above, the first accounting reference period of an oversea company shall be, instead of the period mentioned in subsection (4) of section 2 above, such period ending with the company's accounting reference date as— (a) begins or began on the day after the date to which the last profit and loss account of the company of which a copy was delivered to the registrar of companies before the coming into operation of section 1 above (whether delivered in the year immediately before the coming into operation of that section or earlier) is or was made up ; or (b) if no profit and loss account of the company was so delivered before the coming into operation of that section, begins or began on a date determined by the company in accordance with subsection (4) below, whether that date is or was a date after or a date before the coming into operation of that section; and (in either case) is or was a period exceeding six months and not exceeding eighteen months. (4) The date determined by an oversea company for the purposes of subsection (3)(b) above shall be a date not later than the date on which a place of business in Great Britain is or was established by the company. (5) The reference in subsection (6) of section 2 above to the requirements of sectidn 1 above shall be construed in relation to an oversea company as a reference to the requirements of section 9 above. (6) References in sections 2 and 3 above to a period which is or was an accounting reference period of a company by virtue of section 2 above shall be construed as including references to a period which is or was an accounting reference period of an oversea company by virtue of subsection (3) above. (7) Subsections (6) and (7) of section 3 above shall be omitted in the application of that section in relation to an oversea company.
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