S.L. 234.42 Art. 64Annual Accounts Cap. 13.

(1) The provisions of articles 163, 167, 170 to 183 and articles 185 to 187 of Part V, Title I, Chapter X and the Third and

Sixth Schedule of the Companies Act shall apply mutatis mutandis to companies formed and registered under these regulations, provided that the balance sheet total and turnover mentioned in sub-article (1) of article 185 of the Companies Act shall be read as follows: - balance sheet total: six million euro (6,000,000); - turnover: twelve million euro (12,000,000); - and provided further that the aggregate balance sheet total and aggregate turnover mentioned in sub-article

(5) of article 185 of the Companies Act shall be read as follows: - aggregate balance sheet total: six million euro (6,000,000) net or seven million and two hundred thousand euro (7,200,000) gross; - aggregate turnover: twelve million euro (12,000,000) net or fourteen million and four hundred thousand euro (14,400,000) gross: Provided further that companies which qualify as small companies shall also be entitled to the exemptions mentioned in sub-article (2) of article 185 of the Companies Act and in the provisos to sub-article

(2) of article 183 of the Companies Act.

(2) The penalties in the Eleventh Schedule of the Companies Act which would be applicable to any default in terms of the articles mentioned in sub-regulation (1) shall apply