SCHEDULE 1IAS ACCOUNTS: CONSEQUENTIAL AMENDMENTS TO 1985 ACT
24
In section 268(2)(aa) (realised profits of insurance company with long term business)40–
a
after “balance sheet is” insert–
i
in the case of Companies Act individual accounts,
b
at the end insert —
and
ii
in the case of IAS individual accounts, to that part of the balance sheet which represents accumulated profit or loss,