Full legislation
s.40
40.
If in the case of a company which has been carrying on
business, or of a business which has been carried on for
less than 3 years, the financial statements of the company
or business have only been prepared in respect of 2 years or
1 year, Part II shall have effect as if references to 2
years or 1 year, as the case may be, were substituted for
references to 3 years.