Amendment of section 2253
1
Section 225 of the 1985 Act (alteration of accounting reference date)3 is amended as follows.
2
In subsection (1), for the words from “having effect” to the end substitute—
having effect in relation to—
- a
the company’s current accounting reference period and subsequent periods; or
- b
the company’s previous accounting reference period and subsequent periods.
A company’s “previous accounting reference period” means that immediately preceding its current accounting reference period.
3
Subsection (2) is hereby repealed.
4
In subsection (4)—
a
after “current” insert “or previous”, and
b
for paragraph (a) substitute—
a
to a notice given by a company which is a subsidiary undertaking or parent undertaking of another EEA undertaking if the new accounting reference date coincides with that of the other EEA undertaking or, where that undertaking is not a company, with the last day of its financial year, or
5
In subsection (5)—
a
for “subsection (2)(a)” substitute “subsection (1)”,
b
after “given” insert “in respect of a previous accounting reference period”, and
c
for “the previous accounting reference period” substitute “that period”.
6
After subsection (6) insert—
7
In this section “EEA undertaking” means an undertaking established under the law of any part of the United Kingdom or the law of any other EEA State.