3.—(1) Where in accordance with paragraph 1 a company’s profit and loss account for any financial year has been prepared by reference to one of the formats in Section B, the company’s directors must use the same format in preparing the profit and loss account for subsequent financial years, unless in their opinion there are special reasons for a change.
(2) Particulars of any change must be given in a note to the accounts in which the new format is first used, and the reasons for the change must be explained.