| 1) |
The financial year of a company shall, subject to the provisions of this section and any other law, be its annual accounting period, the commencing date of which and the date on which it ends in the next succeeding calendar year, shall be determined upon the incorporation of the company: Provided that the first financial year of a company shall, where the commencing date so determined- |
| a) |
is a date more than three months after such incorporation, be the period commencing on such incorporation and ending on the date immediately preceding the commencing date so determined; or |
| b) |
is a date not more than three months after such incorporation, be the period commencing on such incorporation and ending on the date so determined as the end of the financial year in the next calendar year. |
| 2) |
A company may at any time before the end of its current financial year on payment of the prescribed fee and on lodgment with the Registrar of the prescribed form- |
| a) |
change the end of that financial year to a date being not more than six months earlier; or |
| b) |
with the approval of the Registrar given on good cause shown, change the end of that financial year to a date being not more than six months later, |
and in such a case every subsequent financial year of the company shall end, subject to the provisions of this section, on the date as so changed.
| 3) |
Any reference in this Act to the financial year of a company shall be construed as including a reference to any period which in terms of this section is stated to be a financial year of that company. |
Special Investigating Units and Special Tribunals Act, 1996
