Companies Act (Cap. 386), article 187

187. (1) A company shall present its annual accounts in the same currency as that of its share capital. (2) Where the annual accounts of a company are presented in a currency other than euro, there shall be stated on the balance sheet of the company the exchange rate between the currency used and euro on the balance sheet date and such rate shall be the official euro reference middle exchange rate published by the European Central Bank, or the indicative middle exchange rate published by the Central Bank of Malta, as the case may be, for that date. (3) For the purposes of applying any provision of this Act which sets a threshold by reference to an amount in euro in the annual accounts of a company, such amount as stated in a foreign currency in the company’s annual accounts shall be converted into euro by using the exchange rate referred to in sub-article (2). (4) Annual accounts shall be published in the currency in which they are presented. They may also be published in both the currency in which they are presented and in euro. The conversion into euro shall be made by using the exchange rate between the currency used and the euro on the balance sheet date, and such rate shall be the official euro reference middle exchange rate published by the European Central Bank, or the indicative middle exchange rate published by the Central Bank of Malta, as the case may be. This rate shall be disclosed in the notes to the accounts. Power of Minister to make regulations altering accounting requirements. Amended by: IV. 2003.84; IX. 2008.29.