Cap. 386 Art. 166Consequence of givingnoticeunder article 165.

(1) Where a company has given notice with effect in accordance with article 165 and that notice has not been superseded by a subsequent notice by the company which has such effect, the new date specified in the notice shall be the company’s accounting reference date in substitution for that which, by virtue of article 165 or this article, was its accounting reference date at the time when the notice was given.

(2) Where by virtue of a notice as is referred to in sub-article

(1) one date is substituted for another as the accounting reference date of a company -

(a) the current or previous accounting reference period, shortened or extended, as the case may be, in accordance with the notice; and

(b) each successive period of twelve months beginning after the end of that accounting reference period, as so shortened or extended, and ending with the new accounting reference date, shall be treated as having been an accounting reference period of the company, instead of any period which would have been an accounting reference period of the company if the notice had not been given.

(3) The provisions of article 165 and the provisions of this article shall not affect any accounting reference period of the company which -

(a) in the case of a notice under article 165(1) is earlier than the current accounting reference period; or

(b) in the case of a notice under article 165(2) is earlier than the previous accounting reference period.