(1) An application by a company for an extension of a period under section 143 (2) or section 169 (2) of the Act or both the sections simultaneously shall be made pursuant to a resolution of the directors and in accordance with Form 51 A set out in the Second Schedule to these Regulations and signed by a secretary or a director of the company.

(2) An application referred to in paragraph (1) shall be made before the expiration of that period or of the calendar year in which the annual general meeting would otherwise be required by section 143 (1) of the Act to be held or in which the profit and loss account would otherwise be required by section 169 (1) of the Act to be laid before the company at the annual general meeting, as the case may be.

(3) Where the initial extension of a period granted by the Registrar is not sufficient for the company, an application for a further extension of the period may be made pursuant to another resolution of the directors in Form 51A duly endorsed with the words "Application For Further Extension" and lodged with the Registrar not later than fourteen days before the initial extension expires.