Regulation 2 Amendment of section 224

Section 224 of the 1985 Act (accounting reference periods and accounting reference date)^f1 is amended as follows.

In subsection (2), after “company” insert “incorporated before 1st April 1996”.

In subsection (3), for “a company’s accounting reference date” substitute “the accounting reference date of such a company”.

After that subsection insert—

“(3A)

The accounting reference date of a company incorporated on or after 1st April 1996 is the last day of the month in which the anniversary of its incorporation falls.”