Paragraph 4 Accounts of Authority from 1st January 1996 to transfer date (if before 1st January 1997)

(1)

If the transfer date falls before 1st January 1997, the statutory accounts prepared by the directors of the Successor Company in respect of a period which consists of or includes the whole or any part of the residual accounting period of the Authority shall deal with the affairs of the Authority during so much of the residual accounting period as falls within that period as well as, and as one with, the affairs of the Successor Company.

(2)

In this paragraph—

(a)

“statutory accounts” means, in relation to the Successor Company,—

(i)

any accounts prepared by that company for the purposes of any provision of the Companies Act 1985, including group accounts; and

(ii)

any statement of accounts prepared by that company under section 42 of the Harbours Act 1964^f1;

(b)

references to the residual accounting period of the Authority are references to the period beginning with 1st January 1996 and ending with the date of the day before the transfer date.

Annotations

Footnotes

f1: 1964 c. 40; section 42 was substituted by the Transport Act 1981 (c. 56), Schedule 6, paragraph 10, and amended by the Companies Act 1989 (c. 40), Schedule 10, paragraph 26.