Section 634 of The Companies Act No. 17 of 2015: Power of company to change its accounting reference date
(1) A company may, by notice lodged with the Registrar for registration, change its accounting reference date having effect in relation to—
(a) the current accounting reference period of the company and subsequent periods; or
(b) the previous accounting reference period of the company and subsequent periods.
(2) The previous accounting reference period of a company is the one immediately preceding its current accounting reference period.
(3) The notice under subsection (1) is not effective unless it states whether the current or previous accounting reference period—
(a) is to be shortened, so as to come to an end on the first occasion on which the new accounting reference date occurs or occurred after the beginning of the period; or
(b) is to be extended, so as to come to an end on the second occasion on which that date occurs or occurred after the beginning of the period.
(4) A notice extending a company's current or previous accounting reference period is not effective if given less than five years after the end of an earlier accounting reference period of the company that was extended under this section.
(5) The Cabinet Secretary may, in writing, declare that subsection (4) should not apply to a notice that has been lodged or may be lodged by a specified company, in which case that subsection does not apply to the company.
(6) A company may not lodge a notice in respect of a previous accounting reference period if the period for lodging the financial statement for the financial year determined by reference to that accounting reference period has already expired.
(7) An accounting reference period may not be extended so as to exceed eighteen months. A notice under this section is void if the current or previous accounting reference period as extended in accordance with the notice would exceed that limit.
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