(1) This section applies if the last annual accounts of any of the merging companies relate to a financial year ending before -
(a) the date seven months before the first meeting of the company summoned for the purposes of approving the scheme, or
(b) if no meeting of the company is required (by virtue of any of sections 916 to 918), the date six months before the directors of the company adopt the draft terms of the scheme.
(1A) If the company has not made public a half-yearly financial report relating to a period ending on or after the date mentioned in subsection (1), the directors of the company must prepare a supplementary accounting statement.
(2) That statement must consist of -
(a) a balance sheet dealing with the state of affairs of the company as at a date not more than three months before the draft terms were adopted by the directors, and
(b) where the company would be required under section 399 to prepare group accounts if that date were the last day of a financial year, a
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