TERMINOLOGY, FORMS & METHODS OF PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS. COPYRIGHT RODERICK SEEMAN

Article 12. Subsidiaries with Differing Business Terms Consolidated subsidiaries which have business years ending on a date different from the consolidated settlement of accounts date, on the date of the settlement of consolidated accounts, must make a settlement of accounts necessary to prepare financial statements which will be base for the preparation of consolidated financial statements. Provided, however, that in those situations where the differences between the last day of the business year of the said consolidated subsidiary and the date of settlement of consolidated accounts does not exceed 3 months, those restrictions do not apply at the time of preparation of consolidated financial statements with the base thereof being the financial statements in relation to the said business year.