Companies Act (Cap. 386), article 165

165. (1) At any time during a pe riod which is an accounting reference period of a company by virtue of article 164 or 166 t he company may give notice in the prescribed form to the Registrar specifying a date in the calendar year ("the new accounting reference date") on which that accounting reference period ("th e current accounting reference period") and each subsequent accounting reference period of the company is to be treated as coming to an end or, as the case may require, as having come to an end. ( 2 ) A t a n y t i m e a f t e r t h e e n d o f a p e r i o d w h i c h w a s a n accounting reference period of a company by virtue of article 1 64 or 166 the company may give notice in the prescribed form to th e Registrar specifying a date in the calendar year ("the new accounting reference date") on which that accounting reference period ("the previous accounting reference period") and each subsequent accounting reference period of the company is to be treated as coming or, as the case may require, as having come t o an end. (3) A notice under sub-article (2), shall, however - (a) have no effect unless the company is a subsidiary undertaking or parent company of another company and the new accounting reference date coincides with the accounting reference date of that other company; and (b) have no effect if the period allowed under article 182 for delivery of the annual accounts in relation to the previous accounting period to be laid before the company in general meeting has already expired at the time when the notice is given. (4) A notice under this article shall state whether the current or previous accounting reference period of the company - (a) is to be treated as shortened, so as to come to an end or, as the case may require, be treated as having come to an end on the new accounting reference date on the first occasion on which that d ate falls or fell after the beginning of tha t accounting reference period; or (b) is to be treated as extended , so as to come to an end or, as the case may require, be treated as having come to an end on the new accounting reference date on the second occasion on which tha t date falls or fell after the beginning of that acco unting reference period. (5) A notice which states tha t the current or previous accounting reference period is to be extended shall have no eff ect if the current or previous accountin g reference period, as extende d in accordance with the notice, w ould exceed eighteen months. COMP ANIES [CAP. 386. 111 (6) Subject to any direction given by the Registrar under sub- article (7), a notice which stat es that the current or previous accounting reference period is to be extended shall have no eff ect unless - (a) no earlier accounting reference period of the company has been extended by virtue of a previous notice given by the company under this article; or (b) the notice is given not less than five years after the date on which any earlier accounting reference period of the company which was so extended came to an end; or (c) the company is a subsidiary undertaking or parent company of another undertaking and the new accounting reference date coincides with the accounting reference date of that other undertaking. (7) The Registrar may, if he thinks fit, direct that the provisi ons of sub-article (6) shall not apply to a notice already given by a company under this article or, as the case may be, in relation to a notice which may be so given. Consequence of giving notice under article 165.