Under Section 147(1) of the Act, every company must keep certain books in the English language, namely:
Assets and liabilities of the company.
Sales and purchases of goods the company.
Receipts and expenses the company.
Under Section 150(1) of the Act, if a company has subsidiaries, it must lay group accounts before a general meeting of the holding company.
Under Section 151(1) of the Act, the group accounts laid before the general meeting must comprise:
A consolidated balance sheet of the company and the subsidiaries dealt with.
A consolidated profit and loss account of the company and the subsidiaries.