Paragraph 16

A close company may, at any time after the general meeting at which the accounts for any period of account are adopted, forward to the inspector a copy of those accounts, together with a copy of the report (if any)of the directors for that period and such further information (if any)as it may think fit, and may request the inspector to proceed under this paragraph in relation to any accounting period comprised in that period of account.

Sub-paragraph (1)above shall not apply if the company is neither a trading company nor a member of a trading group and has no estate or trading income.

Where the inspector receives a request made in accordance with sub-paragraph (1)above in relation to any accounting period, then, subject to sub-paragraph (4)below, he shall, within three months after receipt of the request, intimate to the company whether or not he proposes to make an apportionment in respect of the company for the accounting period under section 423.

On receiving a request made in accordance with sub-paragraph (1)above the inspector may, not later than three months after the receipt of the request, call on the company to furnish him with such further particulars as he may reasonably require; and, if the inspector does so, the time for giving the intimation required by sub-paragraph (3)above shall not expire before three months after he has been furnished with those particulars.

Where the inspector receives a request made in accordance with sub-paragraph (1)above in relation to any accounting period, and does not within the time limited by sub-paragraphs (3)and (4)above intimate his intention to make an apportionment in respect of the period, no such apportionment shall be made unless either—