TMI BlogAnnual accounts and balance sheet.X X X X Extracts X X X X X X X X Extracts X X X X ..... ied in sub-section (3); and (b) a profit and loss account for that period. (2) In the case of a company not carrying on business for profit, an income and expenditure account shall be laid before the company at its annual general meeting instead of a profit and loss account, and all references to "profit and loss account", "profit" and "loss" in this section and elsewhere in this Act, sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n extension of time has been granted for holding the meeting under the second proviso to sub-section (1) of section 166, by more than six months and the extension so granted.] (4) The period to which the account aforesaid relates is referred to in this Act as a "financial year" and it may be less or more than a calendar year, but it shall not exceed fifteen months: Provided that it may exten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... risonment for any such offence unless it was committed wilfully. (6) If any person, not being a director of the company, having been charged by the Board of directors with the duty of seeing that the provisions of this section are complied with, makes default in doing so, he shall, in respect of each offence, be punishable with imprisonment for a term which may extend to six months, or with fine ..... X X X X Extracts X X X X X X X X Extracts X X X X
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