Section 939 of The Companies Act No. 17 of 2015: Supplementary financial statement for merger in certain cases
(1) If the last annual financial statements of any of the merging companies relate to a financial year ending more than seven months before the first meeting of the company convened for the purposes of approving the scheme, the directors of the company concerned shall prepare a supplementary financial statement that complies with subsection (2).
(2) A supplementary financial statement complies with this subsection if it consists of—
(a) a balance sheet setting out the financial position of the company as at a date not more than three months before the draft terms were adopted by the directors; and
(b) if the company would be required under section 639 to prepare a group financial statement if that date were the last day of a financial year, a consolidated balance sheet setting out the financial position of the company and the undertakings that would be included in such a consolidation.
(3) The requirements of this Act as to the balance sheet forming part of a company's annual financial statement, and the matters to be included in notes to it, apply to the balance sheet required for a financial statement under this section, with such modifications as are necessary because of its being prepared otherwise than as at the last day of a financial year.
(4) Section 652 applies to the balance sheet required for a financial statement under this section.
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