Financial year of a trust established by section 4 (3)
6 Financial year of a trust established by section 4 (3)
For the purposes of this Act, a trust established in respect of a common by section 4 (3) of this Act shall be taken to have had a previous financial year which:
if the body corporate constituted in respect of the common by section 4 of the former Act made provision for a financial year—ended on the last day of the last financial year of the body corporate before the commencement of section 4 of this Act, or
if the body corporate so constituted did not have a financial year—ended on the date on which that body last held a meeting of commoners under section 20 of the former Act before that commencement.
This Act’s bill:Explanatory memorandum
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