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Companies Act, 1973 (Act No. 61 of 1973)

Chapter XI: Accounting and Disclosure

Interim Accounting

304. Provisional annual financial statements

 

 

1) Every widely held company, other than a wholly owned subsidiary, which does not within three months after the end of its financial year issue copies of its annual financial statements in terms of section 302(1) shall not later than the date on which tile said period of three months expires send to every member and holder of debentures of the company a copy of the provisional annual financial statements of the company or, in the case of a holding company, of the company and its subsidiaries during that accounting period, and the results thereof.

 

2) If a limited interest company has not issued its annual financial statements in terms of section 302(1) within six months after the end of its financial year, the Registrar may, on application to him or her in the prescribed manner, by any member of that company, and on good cause shown, require that company by written notice to lodge with him or her provisional annual financial statements as referred to in subsection (1) of this section within a period of six weeks from the date of such notice and thereupon the said company shall, unless it issues its annual financial statements within the said period, lodge provisional annual financial statements with the Registrar within the said period.