Companies. |Ch. 31. No. 1.

the sale or purchase, or for any option of purchase, of any property to be
acquired by the company, in any case where—

(a) the purchase money is not fully paid at the date of the issue of
the prospectus;

(8) the purchase money is to be paid or satisfied wholly or in part
out of the proceeds of the issue offered for subscription by the
prospectus ;

(c) the contract depends for its validity or fulfilment on the result
of that issue.

3. Where any property to be acquired by the company is to be taken
on lease, this Schedule shall have effect as if the expression “‘ vendor "
included the lessor, and the expression ‘* purchase moncy "’ included the
consideration for the lease, and the expression “ sub-purchaser " included
a sub-lessee.

+. For the purposes of paragraph 8 of Part L. of this Schedule where the
vendors or any of them are a firm, the members of the firm shall not be
treated as separate vendors,

5. If in the case of a company which has been carrying on business, or
of a business which has been carried on for less than three years, the
accounts of the company or business have only been made up in respect of
two years or one year, Part IT. of this Schedule shall have cffect as if
references to two years of one year, as the case may be, were substituted
for references to three years.

6. The expression “ financial year ”’ in Part IL. of this Schedule means
the year in respect of which the accounts of the company or of the business,
as the case may be, are made up, and where by reasons of any alteration
of the date on which the financial year of the company or business
terminates the accounts of the company or business have been made up
for a period greater or less than a year, that greater or less period shall
for the purpose of the said Part of this Schedule he deemed to be a financial
year.

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