This section applies to a society registered under section 1 of this Act on or after the day on which this section comes into force.
The year of account for a society to which this section applies is determined according to its accounting reference date in each calendar year.
Subject to subsection (7) below the accounting reference date is the last day of the month in which the anniversary of its registration falls.
The first year of account is the period of more than 6 months but not more than 18 months beginning with the date of the society’s registration and ending with its accounting reference date.
Subsequent years of account are successive periods of 12 months beginning immediately after the end of the previous year of account and ending with the society’s accounting reference date.
In the case of a society which is terminated by an instrument of dissolution under section 55(1)(b) of this Act the last year of account for that society ends with the date of the instrument of dissolution.
A society to which this section applies may by notice to the FCA specify a new accounting reference date having effect in relation to the society’s current and subsequent years of account.
A notice under subsection (7) must state whether the current year of account—
A notice extending a society’s current year of account is not effective if—