Section 487 | Actual financial statements ignored if for too long a period or too late

Financial statements drawn up by or on behalf of any entity are to be ignored for the purposes of this Part (apart from this section) if—

(a)the period in respect of which they are drawn up is more than 18 months, or

(b)they are drawn up after the end of the period of 30 months beginning with the beginning of the period in respect of which they are drawn up.