78Dealers’ accounts

##### 78 Dealers’ accounts (1) In this section: > financial year, in relation to a dealer, means: (a) where the dealer is not a body corporate—the year ending on 30 June; and (b) where the dealer is a body corporate—the financial year of the body corporate within the meaning of the Companies Act 1981. > prescribed day, in relation to a financial year of a dealer, means: (a) where the dealer is not a body corporate—the day that is 2 months after the end of that financial year; or (b) where the dealer is a body corporate—the day that is 3 months after the end of that financial year; or where, in either case, an extension of time is approved pursuant to subsection (3), the day on which the extended time expires. (2) A dealer shall, in respect of each financial year, other than a financial year that ended before the date of commencement of the Companies Act 1981 or ended on or after that date but before the date on which the dealer commenced to carry on business as a dealer, prepare a true and fair profit and loss account and balance sheet on the basis of such accounting principles (if any) and containing such information and matters as are prescribed and lodge them with the Commission before the prescribed day for that financial year, together with an auditor’s report containing the prescribed information and matters. (3) The Commission may, on application made by a dealer and his auditor before the expiration of the period of 2 months or, as the case requires, the period of 3 months referred to in the definition of prescribed day in subsection (1) or, if that period has been extended pursuant to an approval or approvals previously given under this subsection, before the expiration of the period as so extended, approve an extension or further extension of the period, and such an approval may be given subject to such conditions (if any) as the Commission imposes. (4) Where an approval under subsection (3) in relation to a dealer is given subject to conditions, the dealer shall comply with those conditions.