Cap. 168 Art. 133Keeping of books of account. Cap. 13.

(1) A company shall be deemed to comply with the requirements of articles 13 to 18 of the Commercial Code if it keeps proper books of account with respect to -

(a) all sums of money received and expended by the company and the matters in respect of which the receipt and expenditure takes place;

(b) all sales and purchases of goods by the company;

(c) the assets and liabilities of the company.

(2) For the purposes of sub-article (1), proper books of account shall not be deemed to be kept with respect to the matters aforesaid of the company or at such other place as the directors think fit, and shall be at all times open to inspection by the directors: Provided that if books of account are kept at a place outside Malta there shall be sent to, and kept at a place in, Malta and be at all times open to the inspection of the directors such accounts and returns with respect to the business dealt with in the books of account so kept as will disclose with reasonable accuracy the financial position of that business at intervals not exceeding six months and will enable to be prepared, in accordance with this Ordinance, the company’s balance sheet and its profit and loss account.