ACT No. XXI X of 1979 AN ACT to prescribe the period of the financial ~ear.

I assent.

J#.~

Presi~ent

!l.

November, 1979

ACT No. XXI X of 1979

AN ACT to prescribe the period of the financial ~ear.

BE IT ENACTED by the President. by and with the advice and

consent of the House of Representatives, in this present Parliament

assembled, and by the authority of the same, as foIlows:-

This Act may be cited as the Financial Year Act, 1979.

Second Column

Extent of Amendments

In subsection (3) of section 7, for the words "until the 31st

March next following" there shall be substituted the words

"until the thirty-first day of December next following".

In paragraph (a) of subsection (3) of section 4, for the

words "beginning with the first day of January and ending

with the thirtieth day of April" there shall be substituted the

words "beginning with the first day of October of that year

and ending with the thirty-first day of January of the next

following year".

. In subsection (3) of section 3, for the words "until the

thirty-first day of March" there shall be substituted the words

"until the thirty-first day of December".

In section 2, for the definition of "financial year" there

shall be substituted the following definition

" " financial year" has the same meaning as it has

for the pnrposes of the Constitution;".

In paragraph 4 of the Second Schedule, for the words

"until the 31st day of March" there shall be substituted the

words "until the thirty-first day of December".

In subsection (2) of section 8, for the words "shall be

calculated to the thirty-first day of March in every year" there

shall be substituted the words "shall be calculated, until the

year 1979, to 31st March and again from 1st April to 31st

December of that year, and, for any subsequent year, to 31st

December in every year";

In section 11, for the words "ending on each thirty-first

day of March" there shaH be substituted the words "ending,

until the year 1979, on 31st March and again during the nine

months ending on 31st December of that year, and subse-

quently during the year ending on 31st December of each

year";

In subsection (3) of section 12, for the words "lf on the

thirty-first day of March" there shaH be substituted the words

"lf on 31st March in any year until the year 1979, and again

on 31st December of the said year, and if on 31st December in

any subsequent year".

In section 2, for the definition of "financial year" there

shall be substituted the following definition

" "financial year" has the same meaning as it has for

the purposes of the Constitution;".

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Second Column

Extent of Amendments

For section 15 there shall be substituted the following

section

"15. The financial year of the corporation shaH be

a period of twelve months ending on 31st December

Provided that the financial year which began on !st

April, 1979, shall be a period of nine months ending on

31st December, 1979.".

In section 2, for the definition of "financial year" there

(Act No. XXXII of shall be substituted the foHowing definition

" "financial year" has the same meaning as it has for

the purposes of the Constitntion;".

In section 2, for the definition of "financial year" there

shaH be substituted the foHowing definition

" " financial year" has the same meaning as it has for

the purposes of the Constitution;".

In section 2, for the definition of "financial year" there

Corporation Act, 1975 shall be substituted the following definition

""financial year" means the period of twelve months

ending on the thirtieth day of Septemher

Provided that the financial year which commenced

on !st April, 1979, shaH end on 31st March, 1980, and

the first financial year thereafter shaH commence on 1st

April, 1980, and end on 30th September, 1981;".

In section 2, in the definition of "financial year", for the

Authority Act, 1976 words "31st March" and "the 31st day of March" there shaH

(Act No. XV of 1976) be substituted respectively the words "30th September" and

the words "the 30th day of September".

In subsection (l) of section 2, for the definition of "fin-

ancial year" there shaH be substituted the following defini-

tion

" "financial year" means the period of twelve months

ending on the thirtieth day of September

Provided that the financial year which commenced

on !st April, 1979, shall end on 31st March, 1980, and

the first financial year thereafter shall commence on

!st April, 1980, and end on 30th September, 1981;".

Passed by the House of Representatives at Sitting No. 320 of the 31st October, 1979.

For the purposes of the Constitution, and as provided by section

126 thereof. it is hereby prescribed that the 31st day of December shall

be the date on which every financial year, subsequent to that ending on

the 31st March, 1979, shaIl end.

The enactments specified in the first column of the Schedule

hereto shaIl have effect subject to the amendments specified in the

second column of that Schedule.