1. Every company shall have a financial year to be determined in the company contract, provided that the first financial year of the company shall not exceed eighteen (18) months and shall not be less than six (6) months, calculated from the date of its registration with the competent authority. 2. The subsequent fiscal years shall be consecutive periods, each of twelve (12) months, commencing immediately after the end of the preceding fiscal year.
Interpretation and application must be checked against the official text and current version.