1. Every Company shall have a fiscal year to be specified in its Articles of Association, provided that the first fiscal year of the Company shall be between 6 [six] to 18 [eighteen] months, starting from the date on which the Company is registered in the commercial register maintained by the Competent Authority. 2. All fiscal years subsequent to the first one shall run for 12 months after the end of the preceding fiscal year.
Interpretation and application must be checked against the official text and current version.