{
  "url": "https://openlegislation.uk/draft-overseas-companies-regulations-2009/regulation-37",
  "json_url": "https://openlegislation.uk/draft-overseas-companies-regulations-2009/regulation-37.json",
  "legislation": "ukdsi/2009/9780111479476",
  "legislation_title": "The Overseas Companies Regulations 2009",
  "legislation_url": "https://openlegislation.uk/draft-overseas-companies-regulations-2009",
  "path": "regulation/37",
  "kind": "regulation",
  "number": "37",
  "heading": "A company’s financial year",
  "text": "Sections 390 to 392 of the Companies Act 2006 apply in relation to a company to which this Chapter applies, modified so that they read as follows—\n“\n390\nA company’s financial year\n(1)\nA company’s financial year is determined as follows.\n(2)\nIts first financial year—\n(a)\nbegins with the first day of its first accounting reference period, and\n(b)\nends with the last day of that period or such other date, not more than seven days before or after the end of that period, as the directors may determine.\n(3)\nSubsequent financial years—\n(a)\nbegin with the day immediately following the end of the company’s previous financial year, and\n(b)\nend with the last day of its next accounting reference period or such other date, not more than seven days before or after the end of that period, as the directors may determine.\n391\nAccounting reference periods and accounting reference date\n(1)\nA company’s accounting reference periods are determined according to its accounting reference date in each calendar year.\n(2)\nThe accounting reference date of a company is the last day of the month in which the anniversary of its becoming a relevant overseas company falls.\n(3)\nA company’s first accounting reference period is the period of more than six months, but not more than eighteen months, beginning with the date of its becoming a relevant overseas company and ending with its accounting reference date.\n(4)\nIts subsequent accounting reference periods are successive periods of twelve months beginning immediately after the end of the previous accounting reference period and ending with its accounting reference date.\n(5)\nThis section has effect subject to the provisions of section 392.\n392\nAlteration of accounting reference date\n(1)\nA company may by notice given to the registrar specify a new accounting reference date having effect in relation to—\n(a)\nthe company’s current accounting reference period and subsequent periods, or\n(b)\nthe company’s previous accounting reference period and subsequent periods.\nA company’s “previous accounting reference period” means the one immediately preceding its current accounting reference period.\n(2)\nThe notice must state whether the current or previous accounting reference period—\n(a)\nis to be shortened, so as to come to an end on the first occasion on which the new accounting reference date falls or fell after the beginning of the period, or\n(b)\nis to be extended, so as to come to an end on the second occasion on which that date falls or fell after the beginning of the period.\n(3)\nA notice under this section may not be given in respect of a previous accounting reference period if the period for filing accounts for the financial year determined by reference to that accounting reference period has already expired.\n(4)\nAn accounting reference period may not be extended so as to exceed eighteen months and a notice under this section is ineffective if the current or previous accounting reference period as extended in accordance with the notice would exceed that limit.\nThis does not apply where the company is in administration under Part 2 of the Insolvency Act 1986 (c.45) or Part 3 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)).\n”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2009/9780111479476/regulation/37",
    "retrieved_at": "2026-10-30T14:57:28.054034+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}