# Companies Act 1948, Paragraph 27


If in the case of a company which has been carrying on business, or of a business which has been carried on for less than five years, the accounts of the company or business have only been made up in respect of four years, three years, two years or one year, Part II of this Schedule shall have effect as if references to four years, three years, two years or one year, as the case may be, were substituted for references to five years.

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Source: https://www.legislation.gov.uk/ukpga/Geo6/11-12/38/schedule/FOURTH/paragraph/27 (the official version)
Page: https://openlegislation.uk/companies-act-1948/schedule-FOURTH/paragraph-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.