Section 17: Consolidated financial statements of protected cell company

17. Consolidated financial statements of protected cell company (1) Notwithstanding section 212, any company, incorporated under the Protected Cell Companies Act, that has, on its balance sheet date, one or more subsidiaries, shall present, within 6 months of its balance sheet date, separate consolidated financial statements in respect of each of its cells. (2) The separate consolidated financial statements under paragraph (1) shall be in accordance with and in compliance with the International Accounting Standards or any other internationally accepted accounting standards. [Part I amended by GN 167 of 2001; GN 83 of 2002; s. 156 (1) (o) of Act 22 of 2005 w.e.f. 28 September 2007; GN 119 of 2006 w.e.f. 16 September 2006; GN 234 of 2011 w.e.f. 1 January 2012; s. 5 (p) of Act 27 of 2012 w.e.f. 22 December 2012; s. 7 (g) of Act 27 of 2013 w.e.f. 21 December 2013; s. 13 (ab) (i) of Act 11 of 2018 w.e.f. 1 October 2018.] PART II – PROVISIONS APPLICABLE TO AUTHORISED COMPANY OR COMPANY APPLYING AS AUTHORISED COMPANY