Sec. 2. Definitions.- In this Act, unless the context otherwise requires

Sec. 2 (17) - Defn. of the term - FINANCIAL YEAR 

(17) "financial year" means in relation to any body corporate, the period in respect of which any profit and loss account of the body corporate laid before it in annual general meeting, is made up, whether that period is a year or not

Provided that, in relation to an insurance company, "financial year" shall mean the calendar year referred to in subsection (1) of section 11 of the Insurance Act, 1938 (4 of 1938);