The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004

24.  In section 268(2)(aa) (realised profits of insurance company with long term business)(1)–

(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,”.

(1)

Section 268 was amended by regulation 13 of S.I. 1996/189 and by article 18 of S.I. 2001/3649.