The Companies (Northern Ireland) Order 1986 (revoked)

1. Introductory Text

2. PART I INTRODUCTORY AND INTERPRETATION

   1. 1. Title and commencement

   2. 2. General interpretation

   3. 2A. {prosp. insertion of 2nd art. 2A by 1990 NI10}

   4. 2A. Relationship of this Order to Insolvency Order

   5. 2B. Relationship of this Order to Parts IV and V of the Financial Services Act 1986

   6. 3. “Company”, etc.

   7. 4. “ Subsidiary ”, “ holding company ” and “ wholly-owned subsidiary ”

   8. 4A. Provisions supplementing Article 4

   9. 4B. Power to amend Articles 4 and 4A

   10. 5. “Called-up share capital”

   11. 6. “Allotment” and “paid up”

   12. 7. “Non-cash asset”

   13. 8. “Body corporate” and “corporation”

   14. 9. “Director” and “shadow director”

   15. 10. Expressions used in connection with accounts

   16. 10A. Meaning of “offer to the public”

   17. 10B. Meaning of “banking company”

   18. 10C. Meaning of “insurance company” and “authorised insurance company”

   19. 11. “Employees' share scheme”

3. PART II FORMATION AND REGISTRATION OF COMPANIES; JURIDICAL STATUS AND MEMBERSHIP

   1. CHAPTER I COMPANY FORMATION

      1. Memorandum of association

         1. 12. Mode of forming incorporated company

         2. 13. Requirements with respect to memorandum

         3. 14. Forms of memorandum

         4. 14A. Statement of company's objects: general commercial company

         5. 15. Resolution to alter objects

         6. 16. Procedure for objecting to alteration

         7. 17. Provisions supplementing Articles 15 and 16

      2. Articles of association

         1. 18. Regulation of companies by articles of association

         2. 19. Tables A, C, D and E

         3. 19A. {prosp. insertion of art. 19A by 1990 NI10}

         4. 20. Alteration of articles by special resolution

      3. Registration and its consequences

         1. 21. Documents to be sent to registrar

         2. 22. Minimum authorised capital (public companies)

         3. 23. Duty of registrar

         4. 24. Effect of registration

         5. 25. Effect of memorandum and articles

         6. 26. Memorandum and articles of company limited by guarantee

         7. 27. Effect of alteration on company's members

         8. 28. Conditions in memorandum which could have been in articles

         9. 29. Amendments of memorandum or articles to be recorded

         10. 30. Copies of memorandum and articles to be given to members

         11. 31. Issued copy of memorandum to embody alterations

      4. A company's membership

         1. 32. Definition of “member”

         2. 33. Membership of holding company

         3. 34. Minimum membership for carrying on business

   2. CHAPTER II COMPANY NAMES

      1. 35. Name as stated in memorandum

      2. 36. Prohibition on registration of certain names

      3. 37. Alternatives of statutory designations

      4. 38. Change of name

      5. 39. Regulations about names

      6. 40. Exemption from requirement of “limited” as part of the name

      7. 41. Provisions applying to company exempt under Article 40

      8. 42. Power to require company to abandon misleading name

      9. 43. Prohibition on trading under misleading name

      10. 44. Penalty for improper use of “limited”

      11. 44A. Penalty for improper use of “community interest company”

      12. 4A. {prosp. insertion of art. 44A by 2005 NI17}

   3. CHAPTER III A COMPANY'S CAPACITY; FORMALITIES OF CARRYING ON BUSINESS

      1. 45. A company's capacity not limited by its memorandum

      2. 45A. Power of directors to bind the company

      3. 45B. No duty to enquire as to capacity of company or authority of directors

      4. 46. Form of company contracts

      5. 46A. Execution of documents

      6. 46B. Pre-incorporation contracts and deeds

      7. 47. Bills of exchange and promissory notes

      8. 48. Execution of deeds abroad

      9. 49. Power of company to have official seal for use abroad

      10. 50. Official seal for share certificates, etc.

      11. 51. Authentication of documents

      12. 52. Events affecting a company's status

4. PART III RE-REGISTRATION AS A MEANS OF ALTERING A COMPANY'S STATUS

   1. Private company becoming public

      1. 53. Re-registration of private company as public

      2. 54. Consideration for shares recently allotted to be valued

      3. 55. Additional requirements relating to share capital

      4. 56. Meaning of “unqualified report” in Article 53(3)

      5. 57. Certificate of re-registration under Article 53

      6. 58. Modification for unlimited company re-registering

   2. Limited company becoming unlimited

      1. 59. Re-registration of limited company as unlimited

      2. 60. Certificate of re-registration under Article 59

   3. Unlimited company becoming limited

      1. 61. Re-registration of unlimited company as limited

      2. 62. Certificate of re-registration under Article 61

   4. Public company becoming private

      1. 63. Re-registration of public company as private

      2. 64. Litigation objection to resolution under Article 63

      3. 65. Certificate of re-registration under Article 63

5. PART IV CAPITAL ISSUES

   1. CHAPTER I ISSUES BY COMPANIES REGISTERED, OR TO BE REGISTERED, IN NORTHERN IRELAND

      1. The prospectus

         1. 66. Matters to be stated, and reports to be set out, in prospectus

         2. 67. Attempted evasion of Article 66 to be void

         3. 68. Document offering shares, etc. for sale deemed a prospectus

         4. Arts. 69, 70 rep. by SI 2001/3649

         5. 71. Prospectus containing statement by expert

         6. 72. Meaning of “expert”

         7. 73. Prospectus to be dated

      2. Registration of prospectus

         1. 74. Registration requirement applicable in all cases

         2. 75. Additional requirements in case of prospectus issued generally

      3. Liabilities and offences in connection with prospectus

         1. 76. Directors, etc. exempt from liability in certain cases

         2. 77. Compensation for subscribers misled by statement in prospectus

         3. 78. Exemption from Article 77 for those acting with propriety

         4. 79. Indemnity for innocent director or expert

         5. 80. Criminal liability for untrue statements

      4. Supplementary

         1. 81. Interpretation for Articles 66 to 80

   2. CHAPTER II ISSUES BY COMPANIES INCORPORATED, OR TO BE INCORPORATED, OUTSIDE THE UNITED KINGDOM

      1. 82. Prospectus of non-United Kingdom company

      2. 83. Attempted evasion of Article 82 to be void

      3. 84. Prospectus containing statement by expert

      4. 85. Restrictions on allotment to be secured in prospectus

      5. 86. Stock exchange certificate exempting from compliance with Schedule 3

      6. 87. Registration of prospectus before issue

      7. 88. Consequences (criminal and civil) of contravention of Articles 82 to 87

      8. 89. Supplementary

6. PART V ALLOTMENT OF SHARES AND DEBENTURES

   1. General provisions as to allotment

      1. 90. Authority of company required for certain allotments

      2. 90A. Election by private company as to duration of authority

      3. 91. Restriction on public offers by private company

      4. 92. Application for, and allotment of, shares and debentures

      5. 93. No allotment unless minimum subscription received

      6. 94. Allotment where issue not fully subscribed

      7. 95. Effect of irregular allotment

      8. 96. Allotment of shares, etc. to be listed on a stock exchange

      9. 97. Operation of Article 96 where prospectus offers shares for sale

      10. 98. Return as to allotments, etc.

   2. Pre-emption rights

      1. 99. Offers to shareholders to be on pre-emptive basis

      2. 100. Communication of pre-emption offers to shareholders

      3. 101. Exclusion of Articles 99 and 100 by private company

      4. 102. Consequences of contravening Articles 99 and 100

      5. 103. Saving for other restrictions as to offers

      6. 104. Interpretation for Articles 99 to 106

      7. 105. Disapplication of pre-emption rights

      8. 106. Saving for company's pre-emption procedure operative before 1985

   3. Commissions and discounts

      1. 107. Power of company to pay commissions

      2. 108. Apart from Article 107, commissions and discounts barred

   4. Amount to be paid for shares; the means of payment

      1. 109. General rules as to payment for shares on allotment

      2. 110. Prohibition on allotment of shares at a discount

      3. 111. Shares to be allotted as at least one-quarter paid-up

      4. 112. Restriction on payment by long-term undertaking

      5. 113. Non-cash consideration to be valued before allotment

      6. 114. Transfer to public company of non-cash asset in initial period

      7. 115. Agreements contravening Article 114

      8. 116. Shares issued to subscribers of memorandum

      9. 117. Meaning of “the appropriate rate”

   5. Valuation provisions

      1. 118. Valuation and report (Articles 54 and 113)

      2. 119. Valuation and report (Article 114)

      3. 120. Entitlement of valuer to full disclosure

      4. 121. Matters to be communicated to registrar

   6. Other matters arising out of allotment, etc.

      1. 121A. Right to damages, etc. not affected

      2. 122. Liability of subsequent holders of shares allotted

      3. 123. Relief in respect of certain liabilities under Articles 109ff.

      4. 124. Penalty for contravention

      5. 125. Undertakings to do work, etc.

      6. 126. Application of Articles 109ff. to special cases

7. PART VI SHARE CAPITAL, ITS INCREASE, MAINTENANCE AND REDUCTION

   1. CHAPTER I GENERAL PROVISIONS ABOUT SHARE CAPITAL

      1. 127. Public company share capital requirements

      2. 128. The authorised minimum

      3. 129. Provision for different amounts to be paid on shares

      4. 130. Reserve liability of limited company

      5. 131. Alteration of share capital (limited companies)

      6. 132. Notice to registrar of alteration

      7. 133. Notice to registrar of increased share capital

      8. 134. Reserve capital of unlimited company

   2. CHAPTER II CLASS RIGHTS

      1. 135. Variation of class rights

      2. 136. Saving for court's powers under other provisions

      3. 137. Shareholders' right to object to variation

      4. 138. Registration of particulars of special rights

      5. 139. Registration of newly created class rights

   3. CHAPTER III SHARE PREMIUMS

      1. 140. Appication of share premiums

      2. 141. Merger relief

      3. 142. Relief in respect of group reconstructions

      4. 143. Provisions supplementing Articles 141 and 142

      5. 144. Provision for extending or restricting relief from Article 140

   4. CHAPTER IV REDUCTION OF SHARE CAPITAL

      1. 145. Special resolution for reduction of share capital

      2. 146. Application to court for order of confirmation

      3. 147. Court order confirming reduction

      4. 148. Registration of order and minute of reduction

      5. 149. Public company reducing capital below authorised minimum

      6. 150. Liability of members on reduced shares

      7. 151. Penalty for concealing name of creditor, etc.

   5. CHAPTER V MAINTENANCE OF CAPITAL

      1. 152. Duty of directors on serious loss of capital

      2. 153. General rule against company acquiring own shares

      3. 154. Acquisition of shares by company's nominee

      4. 155. Exceptions from Article 154

      5. 156. Treatment of shares held by or for public company

      6. 157. Matters arising out of compliance with Article 156(2)

      7. 158. Further provisions supplementing Articles 156 and 157

      8. 159. Sanctions for non-compliance

      9. 160. Charges of public companies on own shares

   6. CHAPTER VI FINANCIAL ASSISTANCE BY A COMPANY FOR ACQUISITION OF ITS OWN SHARES

      1. Provisions applying to both public and private companies

         1. 161. Financial assistance generally prohibited

         2. 162. Interpretation for this Chapter

         3. 163. Transactions not prohibited by Article 161

         4. 164. Special restriction for public companies

      2. Private companies

         1. 165. Relaxation of Article 161 for private companies

         2. 166. Statutory declaration under Article 165

         3. 167. Special resolution under Article 165

         4. 168. Time for giving financial assistance under Article 165

   7. CHAPTER VII REDEEMABLE SHARES; PURCHASE BY A COMPANY OF ITS OWN SHARES

      1. Redemption and purchase generally

         1. 169. Power to issue redeemable shares

         2. 169A. {prosp. insertion of art. 169A by 1990 NI10}

         3. 170. Financing, etc. of redemption

         4. Art. 171 rep. by 1988 c. 39

         5. 172. Power of company to purchase own shares

         6. 172A. Treasury shares

         7. 172B. Treasury shares: maximum holdings

         8. 172C. Treasury shares: voting and other rights

         9. 172D. Treasury shares: disposal and cancellation

         10. 172E. Treasury shares: mandatory cancellation

         11. 172F. Treasury shares: proceeds of sale

         12. 172G. Treasury shares: penalty for contravention

         13. 173. Definitions of “off-market” and “market” purchase

         14. 174. Authority for off-market purchase

         15. 175. Authority for contingent purchase contract

         16. 176. Authority for market purchase

         17. 177. Assignment or release of company's right to purchase own shares

         18. 178. Payments apart from purchase price to be made out of distributable profits

         19. 179. Disclosure by company of purchase of own shares

         20. 179A. Disclosure by company of cancellation or disposal of treasury shares

         21. 180. The capital redemption reserve

      2. Redemption or purchase of own shares out of capital (private companies only)

         1. 181. Power of private companies to redeem or purchase own shares out of capital

         2. 182. Availability of profits for the purposes of Article 181

         3. 183. Conditions for payment out of capital

         4. 184. Procedure for special resolution under Article 183

         5. 185. Publicity for proposed payment out of capital

         6. 186. Objections by company's members or creditors

         7. 187. Powers of court on application under Article 186

      3. Supplementary

         1. 188. Effect of company's failure to redeem or purchase

         2. 189. Power of Department to modify this Chapter

         3. 190. Transitional cases arising under this Chapter; and savings

         4. 191. Interpretation for Chapter VII

   8. CHAPTER VIII MISCELLANEOUS PROVISIONS ABOUT SHARES AND DEBENTURES

      1. Share and debenture certificates, transfers and warrants

         1. 192. Nature, transfer and numbering of shares

         2. 193. Transfer and registration

         3. 194. Certification of transfers

         4. 195. Duty of company as to issue of certificates

         5. 196. Certificate to be evidence of title

         6. 197. Evidence of grant of representation or confirmation as executor

         7. 198. Issue and effect of share warrant to bearer

      2. Debentures

         1. 199. Register of debenture holders

         2. 200. Right to inspect register

         3. 201. Liability of trustees of debentures

         4. 202. Perpetual debentures

         5. 203. Power to re-issue redeemed debentures

         6. 204. Contract to subscribe for debentures

         7. 205. Payment of debts out of assets subject to floating charge

8. PART VII DISCLOSURE OF INTERESTS IN SHARES

   1. Individual and group acquisitions

      1. 206. Obligation of disclosure; the cases in which it may arise and “the relevant time”

      2. 207. Interests to be disclosed

      3. 208. “Percentage level” in relation to notifiable interests

      4. Art. 209 rep. by 1990 NI 10

      5. 210. Particulars to be contained in notification

      6. 211. Notification of family and corporate interests

      7. 212. Agreement to acquire interests in a particular company

      8. 213. Obligation of disclosure arising under Article 212

      9. 214. Obligation of persons acting together to keep each other informed

      10. 215. Interests in shares by attribution

      11. 216. Interests in shares which are to be notified

      12. 217. Interests to be disregarded

      13. 218. Other provisions about notification under this Part

      14. 218A. Power to make further provision by regulations

   2. Registration and investigation of share acquisitions and disposals

      1. 219. Register of interests in shares

      2. 220. Company investigations

      3. 221. Registration of interests disclosed under Article 220

      4. 222. Company investigation on requisition by members

      5. 223. Company report to members

      6. 224. Penalty for failure to provide information

      7. 225. Removal of entries from register

      8. 226. Otherwise, entries not to be removed

      9. 227. Inspection of register and reports

   3. Supplementary

      1. 228. Interpretation of Part VII

9. Part VIII Accounts and Audit

   1. Chapter 1 Provisions Applying to Companies Generally

      1. Accounting records

         1. 229. Duty to keep accounting records

         2. 230. Where and for how long records to be kept

      2. A company's financial and accounting reference periods

         1. 231. A company's financial year

         2. 232. Accounting reference periods and accounting reference date

         3. 233. Alteration of accounting reference date

      3. Annual accounts

         1. 234. Duty to prepare individual accounts

         2. 234A. Companies Order individual accounts

         3. 234B. IAS individual accounts

         4. 235. Duty to prepare group accounts

         5. 235A. Companies Order group accounts

         6. 235B. IAS group accounts

         7. 235C. Consistency of accounts

         8. 236. Exemption for parent companies included in accounts of larger group

         9. 236A. Exemption for parent companies included in non‐EEA group accounts

         10. 237. Subsidiary undertakings included in the consolidation

         11. 238. Treatment of individual profit and loss account where group accounts prepared

         12. 239. Disclosure required in notes to accounts: related undertakings

         13. 239A. Disclosure required in notes to annual accounts: particulars of staff

         14. 240. Disclosure required in notes to accounts: emoluments and other benefits of directors and others

      4. Approval and signing of accounts

         1. 241. Approval and signing of accounts

      5. DIRECTORS' REPORT

         1. 242. Duty to prepare directors' report

         2. 242ZZA. Directors' report: general requirements

         3. 242ZZB. Directors' report: business review

         5. 242A. Approval and signing of directors' report

      6. QUOTED COMPANIES: OPERATING AND FINANCIAL REVIEW

         1. 242AA. Duty to prepare operating and financial review

         2. 242AB. Approval and signing of operating and financial review

      7. Quoted companies: directors' remuneration report

         1. 242B. Duty to prepare directors' remuneration report

         2. 242C. Approval and signing of directors' remuneration report

      8. Auditors' report

         1. 243. Auditors' report

         2. 244. Signature of auditors' report

         3. 245. Duties of auditors

      9. Publication of accounts and reports

         1. 246. Persons entitled to receive copies of accounts and reports

         2. 246A. Time allowed for sending out copies of accounts and reports

         3. 247. Right to demand copies of accounts and reports

         4. 248. Requirements in connection with publication of accounts

      10. Laying and delivering of accounts and reports

          1. 249. Accounts and reports to be laid before company in general meeting

          2. 249A. Members' approval of directors' remuneration report

          3. 250. Accounts and reports to be delivered to the registrar

          4. 250A. Civil penalty for failure to deliver accounts

          5. 250B. Delivery and publication of accounts in ECUs

          6. Art. 251 rep. by SR 2004/496

          7. 252. Period allowed for laying and delivering accounts and reports

      11. Revision of defective accounts and reports

          1. 253. Voluntary revision of annual accounts or directors' report

          2. 253A. Department's notice in respect of annual accounts

          3. 253B. Application to court in respect of defective accounts

          4. 253C. Other persons authorised to apply to court

          5. 253D. Disclosure of information held by Inland Revenue to persons authorised to apply to court

          6. 253E. Restrictions on use and further disclosure of information disclosed under Article 253D

   2. CHAPTER II Exemptions, exceptions and special provisions

      1. Small and medium‐sized companies and groups

         1. 254. Special provisions for small companies

         2. 254A. Special provisions for medium‐sized companies

         3. 255. Qualification of company as small or medium‐sized

         4. 255A. Cases in which special provisions do not apply

         5. 255B. Special auditors' report

         6. 256. Exemption for small and medium‐sized groups

         7. 256A. Group accounts prepared by small company

         8. 257. Qualification of group as small or medium‐sized

      2. Exemptions from audit for certain categories of small company

         1. 257A. Exemptions from audit

         2. 257AA. Dormant Companies

         3. 257B. Cases where exemptions not available

         4. 257C. The report required for the purposes of Article 257A(2)

         5. 257D. The reporting accountant

         6. 257E. Effect of exemptions

         7. Art. 258 rep. by SR 2001/153

      3. Listed public companies

         1. 259. Summary financial statement

      4. Private companies

         1. 260. Election to dispense with laying of accounts and reports before general meeting

         2. 261. Right of shareholder to require laying of accounts

      5. Unlimited companies

         1. 262. Exemption from requirement to deliver accounts and reports

      6. Banking and insurance companies and groups

         1. 263. Special provisions for banking and insurance companies

         2. 263A. Special provisions for banking and insurance groups

         3. 263B. Modification of disclosure requirements in relation to banking company or group

         4. Art. 263C rep. by SR 1994/428

         5. 263D. Power to apply provisions to banking partnerships

   3. CHAPTER III SUPPLEMENTARY PROVISIONS

      1. Accounting standards

         1. 264. Accounting standards

      2. Power to alter accounting requirements

         1. 265. Power of Department to alter accounting requirements

      3. Parent and subsidiary undertakings

         1. 266. Parent and subsidiary undertakings

      4. Other interpretation provisions

         1. 267. Meaning of “undertaking” and related expressions

         2. 268. Participating interests

         3. 269. Notes to the accounts

         4. 270. Minor definitions

         5. 270A. Index of defined expressions

10. PART IX DISTRIBUTION OF PROFITS AND ASSETS

    1. Limits of company's power of distribution

       1. 271. Certain distributions prohibited

       2. 272. Restriction on distribution of assets

       3. 273. Other distributors by investment companies

       4. 274. Meaning of “investment company”

       5. 275. Extension of Articles 273 and 274 to other companies

       6. 276. Realised profits of insurance company with long term business

       7. 277. Treatment of development costs

    2. Relevant accounts

       1. 278. Distribution to be justified by reference to company's accounts

       2. 279. Requirements for last annual accounts

       3. 280. Requirements for interim accounts

       4. 281. Requirements for initial accounts

       5. 282. Method of apply Article 278 so successive distributions

       6. 283. Treatment of assets in the relevant accounts

       7. 284. Distributors in kind

    3. Supplementary

       1. 285. Consequences of unlawful distribution

       2. 286. Saving for provision in a company's articles operative before the Order of 1981

       3. 287. Distributions by banking or insurance companies

       4. 288. Interpretation for Part IX

       5. 289. Saving for other restraints on distribution

11. PART X A COMPANY'S MANAGEMENT; DIRECTORS AND SECRETARIES; THEIR QUALIFICATIONS, DUTIES AND RESPONSIBILITIES

    1. Officers and registered office

       1. 290. Directors

       2. 291. Secretary

       3. 292. Acts done by person in dual capacity

       4. 293. Validity of acts of directors

       5. 294. Qualifications of company secretaries

       6. 295. Registered office

       7. 296. Register of directors and secretaries

       8. 297. Particulars of directors to be registered under Article 296

       9. 298. Particulars of secretaries to be registered under Article 296

    2. Provisions governing appointment of directors

       1. 299. Share qualifications of directors

       2. 300. Appointment of directors to be voted on individually

       3. 301. Age limit for directors

       4. 302. Duty of director to disclose his age

       5. Arts. 303‐310 rep. by 1989 NI 18

    3. Removal of directors

       1. 311. Resolution to remove director

       2. 312. Director's right to protest removal

    4. Other provisions about directors and officers

       1. 313. Directors' names on company correspondence, etc.

       2. 314. Limited company may have directors with unlimited liability

       3. 315. Special resolution making liability of directors unlimited

       4. 316. Assignment of office by directors

       5. 317. Directors to have regard to interests of employees

       6. 317A. Provisions protecting directors from liability

       7. 317B. Qualifying third party indemnity provisions

       8. 317C. Disclosure of qualifying third party indemnity provisions

       9. 318. Provisions exempting officers and auditors from liability

12. PART XI ENFORCEMENT OF FAIR DEALING BY DIRECTORS

    1. Restrictions on directors taking financial advantage

       1. 319. Prohibition on tax-free payments to directors

       2. 320. Payment to director for loss of office, etc.

       3. 321. Company approval for property transfer

       4. 322. Director's duty of disclosure on takeover, etc.

       5. 323. Consequences of non-compliance with Article 322

       6. 324. Provisions supplementing Articles 320 to 323

       7. 325. Directors to disclose interest in contracts

       8. 326. Directors' service contracts to be open to inspection

       9. 327. Director's contract of employment for more than 5 years

       10. 328. Substantial property transactions involving directors, etc.

       11. 329. Exceptions from Article 328

       12. 330. Liabilities arising from contravention of Article 328

       13. 330A. Invalidity of certain transactions involving directors, etc.

       14. 330B. Contracts with sole members who are directors

    2. Share dealings by directors and their families

       1. 331. Prohibition on directors dealing in share options

       2. 332. Duty of director to disclose shareholdings in own company

       3. 333. Register of directors' interests notified under Article 332

       4. 334. Sanctions for non-compliance

       5. 335. Extension of Article 331 to spouses , civil partners and children

       6. 336. Extenstion of Article 332 to spouses , civil partners and children

       7. 337. Duty to notify stock exchange of matters notified under Articles 332 to 336

    3. Restrictions on a company's power to make loans, etc. to directors and persons connected with them

       1. 338. General restriction on loans, etc. to directors and persons connected with them

       2. 339. Interpretation for Articles 338ff.

       3. 340. Short-term quasi-loans

       4. 341. Inter-company loans in the same group

       5. 342. Loans of small amounts

       6. 343. Minor and business transactions

       7. 344. Transactions at behest of holding company

       8. 345. Funding of director's expenditure on duty to company

       10. 346. Loan or quasi-loan by money-lending company

       11. 347. “Relevant amounts” for the purposes of Articles 342ff.

       12. 348. “Value” of transactions and arrangements

       13. 349. Civil remedies for breach of Article 338

       14. 350. Criminal penalties for breach of Article 338

       15. 351. Record of transactions not disclosed in company accounts

       16. 352. Exceptions from Article 351

    4. Supplementary

       1. 353. Power to increase financial limits

       2. 354. “Connected persons”, etc.

       3. 355. Transactions under foreign law

13. PART XII COMPANY ADMINISTRATION AND PROCEDURE

    1. CHAPTER I Company Identification

       1. 356. Company name to appear outside place of business

       2. 357. Company's name to appear in its correspondence, etc.

       3. 358. Company seal

       4. 359. Particulars in correspondence, etc.

    2. CHAPTER II Register of Members

       1. 360. Obligation to keep and enter up register

       2. 360A. Statement that company has only one member

       3. 361. Location of register

       4. 362. Index of members

       5. 363. Entries in register in relation to share warrants

       6. 364. Inspection of register and index

       7. 365. Non-compliance with Articles 361, 362 and 364; agent's default

       8. 366. Power to close register

       9. 367. Power of court to rectify register

       10. 368. Trusts not be entered on register

       11. 369. Register to be evidence

       12. 370. External branch registers

    3. CHAPTER III ANNUAL RETURN

       1. 371. Duty to deliver annual returns

       2. 372. Contents of annual return: general

       3. 372A. Contents of annual return: particulars of share capital and shareholders

       4. 372B. Contents of annual return: information about shareholders: non-traded companies

       5. 372C. Contents of annual return: information about shareholders: traded companies

       6. 372D. Contents of annual return: information about shareholders: supplementary

       7. 373. Supplementary provisions: regulations and interpretation

    4. CHAPTER IV Meetings and Resolutions

       1. Meetings

          1. 374. Annual general meeting

          2. 374A. Election by private company to dispense with annual general meetings

          3. 375. Department's power to call meeting in default

          4. 376. Extraordinary general meeting on member's requisition

          5. 377. Length of notice for calling meetings

          6. 378. General provisions as to meetings and votes

          7. 378A. Quorum at meetings of the sole member

          8. 379. Power of court to order meeting

          9. 380. Proxies

          10. 381. Right to demand a poll

          11. 382. Voting on a poll

          12. 383. Representation of bodies corporate at meetings

       2. Resolutions

          1. 384. Circulation of members' resolutions

          2. 385. In certain cases, compliance with Article 384 not required

          3. 386. Extraordinary and special resolutions

          4. 387. Resolution requiring special notice

          5. 387A. Elective resolution of private company

          6. 388. Registration, etc. of resolutions and agreements

          7. 389. Resolution passed at adjourned meeting

       3. Written resolutions of private companies

          1. 389A. Written resolutions of private companies

          2. 389B. Duty to notify auditors of proposed written resolution

          3. 389C. Written resolutions: supplementary provisions

       4. Records of proceedings

          1. 390. Minutes of meetings

          2. 390A. Recording of written resolutions

          3. 390B. Recording of decisions by the sole member

          4. 391. Inspection of minute books

    5. Chapter V AUDITORS

       1. Appointment of auditors

          1. 392. Duty to appoint auditors

          2. 393. Appointment at general meeting at which accounts laid

          3. 393A. Appointment by private company which is not obliged to lay accounts

          4. 394. Election by private company to dispense with annual appointment

          5. 395. Appointment by Department in default of appointment by company

          6. 396. Filling of casual vacancies

          7. 396A. Certain companies exempt from obligation to appoint auditors

          8. Art. 397 rep. by 1990 NI 5

       2. Rights of auditors

          1. 397A. Rights to information

          2. 397B. Offences relating to the provision of information to auditors

          3. 398. Right to attend company meetings, &c.

       3. Remuneration of auditors

          1. 398A. Remuneration of auditors

          2. 398B. Remuneration of auditors or their associates for non-audit work

       4. Removal, resignation, &c. of auditors

          1. 399. Removal of auditors

          2. 399A. Rights of auditors who are removed or not re-appointed

          3. 400. Resignation of auditors

          4. 400A. Rights of resigning auditors

          5. 401. Termination of appointment of auditors not appointed annually

          6. 401A. Statement by person ceasing to hold office as auditor

          7. 401B. Offences of failing to comply with Article 401A

14. PART XIII REGISTRATION OF CHARGES

    1. 402. Certain charges void if not registered

    2. 403. Charges which have to be registered

    3. 404. Formalities of registration (debentures)

    4. 405. Verification of charge on property outside Northern Ireland

    5. 406. Company's duty to notify registrar of charges it creates

    6. 407. Charges existing on property acquired

    7. 408. Registration of orders charging land, etc.

    8. 409. Register of charges to be kept by registrar

    9. 410. Endorsement of certificate on debentures

    10. 411. Entries of satisfaction and release

    11. 412. Rectification of register of charges

    12. 413. Registration of enforcement of security

    13. 414. Companies to keep copies of instruments creating charges

    14. 415. Company's register of charges

    15. 416. Right to inspect instruments which create charges, etc.

    16. 417. Application of this Part to companies incorporated outside Northern Ireland

15. PART XIV ARRANGEMENTS AND RECONSTRUCTIONS

    1. 418. Power of company to compromise with creditors and members

    2. 419. Information as to compromise to be circulated

    3. 420. Provisions for facilitating company reconstruction or amalgamation

    4. 420A. Application of Articles 418 to 420 mergers and divisions of public companies

16. PART XIVA TAKEOVER OFFERS

    1. 421. Takeover offers

    2. 422. Right of offeror to buy out minority shareholders

    3. 423. Effect of notice under Article 422

    4. 423A. Right of minority shareholder to be bought out by offeror

    5. 423B. Effect of requirement under Article 423A

    6. 423C. Applications to the court

    7. 423D. Joint offers

    8. 423E. Associates

    9. 423F. Convertible securities

17. PART XV INVESTIGATION OF COMPANIES AND THEIR AFFAIRS; REQUISITION OF DOCUMENTS

    1. Appointment and functions of inspectors

       1. 424. Investigation of a company on its own application or that of its members

       2. 425. Other company investigations

       3. 426. Inspectors' powers during investigation

       4. 427. Production of documents and evidence to inspectors

       5. Art. 428 rep. by 1990 NI 10

       6. 429. Obstruction of inspectors treated as contempt of court

       7. 430. Inspectors' reports

       8. 431. Power to bring civil proceedings on company's behalf

       9. 432. Expenses of investigating a company's affairs

       10. Art. 433 rep. by 1990 NI 10

       11. 434. Inspectors' report to be evidence

    2. Other powers of investigation available to the Department

       1. 435. Power to investigate company ownership

       2. 436. Provisions applicable on investigation under Article 435

       3. 437. Power to obtain information as to those interested in shares, etc.

       4. 438. Power to impose restrictions on shares and debentures

       5. 439. Investigation of share dealings

    3. Requisition and seizure of books and papers

       1. 440. Department's power to require production of documents

       3. 441. Entry and search of premises

       5. 442. Provision for security of information obtained

       6. 443. Punishment for destroying, mutilating, etc. company documents

       7. 444. Punishment for furnishing false information

       8. 444A. Disclosure of information by Department or inspector

    4. Supplementary

       1. 445. Privileged information

       2. 446. Investigation of bodies incorporated outside Northern Ireland

       5. 446D. Offences by bodies corporate

18. PART XVI ORDERS IMPOSING RESTRICTIONS ON SHARES (ARTICLES 218, 224, 438)

    1. 447. Consequence of order imposing restrictions

    2. 448. Punishment for attempted evasion of restrictions

    3. 449. Relaxation and removal of restrictions

    4. 450. Further provisions on sale by court order of restricted shares

19. PART XVII FRAUDULENT TRADING BY A COMPANY

    1. 451. Punishment for fraudulent trading

20. PART XVIII PROTECTION OF COMPANY'S MEMBERS AGAINST UNFAIR PREJUDICE

    1. 452. Order on application of company member

    2. 453. Order on application of the Department

    3. 454. Provisions as to petitions and orders under this Part

21. Part XIX - rep. by 1989 NI 19

22. PART XX WINDING UP OF COMPANIES REGISTERED UNDER THIS ORDER OR THE FORMER COMPANIES ACTS

    1. CHAPTER I - V - Rep. by 1989 NI 19

    2. CHAPTER VI PROVISIONS AS TO DISSOLUTION

       1. 602. Power of court to declare dissolution of company void

       2. 603. Registrar may strike defunct company off register

       3. 603A. Registrar may strike private company off register on application

       4. 603B. Duties in connection with making application under Article 603A

       5. 603C. Directors' duties following application under Article 603A

       6. 603D. Articles 603B and 603C: supplementary provisions

       7. 603E. Articles 603B and 603C: enforcement

       8. 603F. Other offences connected with Article 603A

       9. 604. Objection to striking off by person aggrieved

       10. 605. Property of dissolved company to be a bona vacantia

       11. 606. Effect on Article 605 of company's revival after dissolution

       12. 607. Crown disclaimer of property vesting as bona vacantia

       13. 608. Effect of Crown disclaimer under Article 607

       14. 609. Liability for rentcharge on company's land after dissolution

       15. Arts. 610-624 rep. by 1989 NI 19

    3. CHAPTER VII - rep. by 1989 NI 19

23. PART XXI rep. by 1989 NI 19

24. PART XXII BODIES CORPORATE SUBJECT, OR BECOMING SUBJECT, TO THIS ORDER (OTHERWISE THAN BY ORIGINAL FORMATION UNDER PART II)

    1. CHAPTER I COMPANIES FORMED OR REGISTERED UNDER FORMER COMPANIES ACTS

       1. 625. Companies formed and registered under former Companies Acts

       2. 626. Companies registered but not formed under former Companies Acts

       3. 627. Companies re-registered with altered status under former Companies Acts

       4. 628. Companies registered under Joint Stock Companies Acts

    2. CHAPTER II COMPANIES NOT FORMED UNDER COMPANIES LEGISLATION, BUT AUTHORISED TO REGISTER

       1. 629. Companies capable of being registered under this Chapter

       2. 630. Procedural requirements for registration

       3. 631. Change of name on registration

       4. 632. Definition of “joint stock company”

       5. 633. Requirements for registration by joint stock companies

       6. 634. Registration of joint stock company as public company

       7. 635. Other requirements for registration

       8. 636. Name of company registering

       9. 637. Certificate of registration under this Chapter

       10. 638. Effect of registration

       11. 639. Power to substitute memorandum and articles for deed of settlement

25. PART XXIII COMPANIES INCORPORATED OUTSIDE NORTHERN IRELAND CARRYING ON BUSINESS IN NORTHERN IRELAND

    1. CHAPTER I REGISTRATION, ETC.

       1. 640. Application of this Part

       2. 640A. Branch registration under the Eleventh Company Law Directive (89/666/EEC)

       3. 640B. Scope of Articles 641 and 642

       4. 641. Documents to be delivered to registrar

       5. 642. Registration of altered particulars

       6. 642A. Change in registration regime

       7. 643. Obligation to state name and other particulars

       8. 644. Regulation of Part XXIII companies in respect of their names

       9. 644A. Service of documents: companies to which Article 640A applies

       10. 645. Service of documents on a Part XXIII company

       11. 645A. Documents to be filed on cessation of business: companies to which Article 640A applies

       12. 646. Documents to be filed on cessation of business

       13. 647. Penalties for non-compliance

       14. 648. Interpretation . . .

    2. CHAPTER II DELIVERY OF ACCOUNTS AND REPORTS

       1. 648A. Credit and financial institutions to which the Bank Branches Directive (89/117/EEC) applies

       2. 648AA. Companies to which the Eleventh Company Law Directive applies

       3. 648B. Scope of Articles 649 to 652

       4. 649. Preparation of accounts and reports by Part XXIII companies

       5. 650. Part XXIII company's financial year and accounting reference periods

       6. 651. Delivery to registrar of accounts and reports of Part XXIII company

       7. 652. Penalty for non-compliance

    3. CHAPTER III REGISTRATION OF CHARGES

       1. 652A-652M. {prosp insertion of arts. 652A-652M by 1990 NI 10}

    4. CHAPTER IV WINDING UP, ETC.

       1. 652N. Scope of Chapter

       2. 652O. Particulars to be delivered to the registrar: winding up

       3. 652P. Particulars to be delivered to the registrar: insolvency proceedings etc.

       4. 652Q. Penalty for non-compliance

26. PART XXIV THE REGISTRAR OF COMPANIES, HIS FUNCTIONS AND OFFICE

    1. 653. Registration office and registrar

    2. 654. Companies' registered numbers

    3. 654A. Registration of branches of Part XXIII companies

    4. 655. Delivery to the registar of documents in legible form

    5. Art. 656 rep. by SR 2003/3

    6. 656A. The keeping of company records by the registrar

    7. 656B. Delivery to the registrar using electronic communications

    8. 657. Fees payable to registrar

    9. 658. Inspection, &c. of records kept by the registrar

    10. 659. Certificate of incorporation

    11. 659A. Provision and authentication by registrar of documents is non-legible form

    12. 660. Public notice by registrar of receipt or issue of certain documents

    13. Art. 661 rep. by 1990 NI 10

    14. 662. Enforcement of company's duty to make returns

    15. 663. Registrar's index of company and corporate names

    16. Art. 664 rep. by 1990 NI 10

    17. 664A. Interpretation

27. PART XXV MISCELLANEOUS AND SUPPLEMENTARY PROVISIONS

    1. Arts. 665‐666 rep. by 2003 NI 17

    2. 667. Unregistered companies

    3. 668. Power of company to provide for employees on cessation or transfer of business

    4. 669. Certain companies to publish periodical statement

    5. 670. Production and inspection of books where offence suspected

    6. 671. Form of company registers, etc.

    7. 672. Use of computers for company records

    8. 672A. Obligations of company as to inspection of registers, &c.

    9. 673. Service of documents

    10. 674. Costs and expenses in actions by certain limited companies

    11. 675. Power of court to grant relief in certain cases

    12. 676. Enforcement of High Court orders

    13. 677. Annual report by the Department

    14. 678. Punishment of offences

    15. 679. Summary proceedings

    16. 680. Prosecution by public authorities

    17. 680A. Offences by bodies corporate

    18. 680B. Criminal proceedings against unincorporated bodies

    19. 681. Regulations

28. SCHEDULES

    1. SCHEDULE 1

       PARTICULARS OF DIRECTORS, ETC. TO BE CONTAINED IN STATEMENT UNDER AERTICLE 21

       1. Directors

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 1. Subject to paragraph 2, the statement under Article 21(2) shall contain the following particulars with...

          3. This div-1 has a number but no title; creating a P1group with an empty Title

          4. 2. (1) It is not necessary for the statement to contain particulars of a directorship— (a)...

       2. Secretaries

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 3. (1) The statement shall contain the following particulars with respect to the person named as...

       3. Interpretation

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 4. In paragraphs 1(a) and 3(1)(a)— (a) “name” means a person's Christian name (or other forename)...

    2. SCHEDULE 2

       INTERPRETATION OF REFERNECES TO “BENEFICIAL INTEREST”

       1. PART I REFERENCES IN ARTICLES 33, 155, 156 AND 158

          1. Residual interests under pension and employees' share schemes

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 1. (1) Where shares in a company are held on trust for the purposes of a...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 2. (1) This paragraph has effect as regards the operation of Articles . . . 154,...

          2. Employer's charges and other rights of recovery

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 3. (1) Where shares in a company are held on trust, there are to be disregarded—...

          3. Trustee's right to expenses, remuneration, indemnity, etc.

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 4. (1) Where a company is a trustee . . . , there are to be...

          4. Supplementary

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 5. (1) This paragraph applies for the interpretation of this Part of this Schedule . (2)...

       2. PART II REFERENCES IN SCHEDULE 5

          1. Residual interests under pension and employees' share schemes

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 6. (1) Where shares in an undertaking are held on trust for the purposes of a...

          2. Employer's charges and other rights of recovery

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 7. (1) Where shares in an undertaking are held on trust, there shall be disregarded— (a)...

          3. Trustee's right to expenses, remuneration, indemnity, &c.

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 8. Where an undertaking is a trustee, there shall be disregarded any rights which the undertaking...

          4. Supplementary

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 9. (1) The following applies for the interpretation of this Part of this Schedule. (2) “Undertaking”,...

    3. SCHEDULE 3

       MANDATORY CONTENTS OF PROSPECTUS

       1. PART I MATTERS TO BE STATED

          1. The company's proprietorship, management and its capital requirement

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 1. (1) The prospectus must state— (a) the number of founders or management or deferred shares...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 2. Where shares are offered to the public for subscription, the prospectus must give particulars as...

          2. Details relating to the offer

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 3. (1) The prospectus must state— (a) the time of the opening of the subscription lists;...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 4. (1) There must be stated the number, description and amount of any shares in or...

             5. This div-1 has a number but no title; creating a P1group with an empty Title

             6. 5. The prospectus must state the number and amount of shares and debentures which within the...

          3. Property acquired or to be acquired by the company

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 6. (1) For the purposes of paragraphs 7 and 8, “relevant property” is property purchased or...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 7. As respects any relevant property, the prospectus must state— (a) the names and addresses of...

             5. This div-1 has a number but no title; creating a P1group with an empty Title

             6. 8. There must be stated the amount (if any) paid or payable as purchase money in...

             7. This div-1 has a number but no title; creating a P1group with an empty Title

             8. 9. (1) This paragraph applies for the interpretation of paragraphs 6, 7 and 8. (2) Every...

          4. Commissions, preliminary expenses, etc.

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 10. (1) The prospectus must state— (a) the amount (if any) paid within the 2 preceding...

          5. Contracts

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 11. (1) The prospectus must give the dates of, parties to and general nature of every...

          6. Auditors

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 12. The prospectus must state the names and addresses of the company's auditors (if any).

          7. Interests of directors

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 13. (1) The prospectus must give full particulars of— (a) the nature and extent of the...

          8. Other matters

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 14. If the prospectus invites the public to subscribe for shares in the company and the...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 15. In the case of a company which has been carrying on business, or of a...

       2. PART II AUDITORS' AND ACCOUNTANTS' REPORTS TO BE SET OUT IN PROSPECTUS

          1. Auditors' report

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 16. (1) The prospectus shall set out a report by the company's auditors with respect to—...

          2. Accountants' reports

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 17. If the proceeds of the issue of the shares or debentures are to be applied...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 18. (1) The following provisions apply if— (a) the proceeds of the issue are to be...

          3. Provisions interpreting preceding paragraphs, and modifying them in certain cases

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 19. If in the case of a company which has been carrying on business, or of...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 20. “Financial year” in this Part means the year in respect of which the accounts of...

             5. This div-1 has a number but no title; creating a P1group with an empty Title

             6. 21. Any report required by this Part shall either indicate by way of note any adjustments...

             7. This div-1 has a number but no title; creating a P1group with an empty Title

             8. 22. (1) A report required by paragraph 17 or 18 shall be made by accountants qualified...

    4. SCHEDULE 4

       FORM AND CONTENT OF COMPANY ACCOUNTS

       1. PART I GENERAL RULES AND FORMATS

          1. SECTION A GENERAL RULES

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 1. (1) Subject to the following provisions of this Schedule— (a) every balance sheet of a...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 2. (1) Where in accordance with paragraph 1 a company's balance sheet or profit and loss...

             5. This div-1 has a number but no title; creating a P1group with an empty Title

             6. 3. (1) Any item required in accordance with paragraph 1 to be shown in a company's...

             7. This div-1 has a number but no title; creating a P1group with an empty Title

             8. 4. (1) In respect of every item shown in a company's balance sheet or profit and...

             9. This div-1 has a number but no title; creating a P1group with an empty Title

             10. 5. Amounts in respect of items representing assets or income may not be set off against...

             11. This div-1 has a number but no title; creating a P1group with an empty Title

             12. 5A. The directors of a company must, in determining how amounts are presented within items in...

          2. SECTION B THE REQUIRED FORMATS FOR ACCOUNTS

             1. Preliminary

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 6. References in this Part to the items listed in any of the formats set out...

                3. This div-1 has a number but no title; creating a P1group with an empty Title

                4. 7. A number in brackets following any item in any of the formats set out below...

                5. This div-1 has a number but no title; creating a P1group with an empty Title

                6. 8. In the notes following the formats— (a) the heading of each note gives the required...

                7. Balance Sheet Formats

                8. Format 1

                9. This div-1 has a number but no title; creating a P1group with an empty Title

                10. A. Called-up share capital not paid (1)

                11. This div-1 has a number but no title; creating a P1group with an empty Title

                12. B. Fixed assets (I) Intangible assets (1) Development costs (2) Concessions, patents, licences, trade marks and...

                13. This div-1 has a number but no title; creating a P1group with an empty Title

                14. C. Current assets (I) Stocks (1) Raw materials and consumables (2) Work in progress (3) Finished...

                15. This div-1 has a number but no title; creating a P1group with an empty Title

                16. D. Prepayments and accrued income (6)

                17. This div-1 has a number but no title; creating a P1group with an empty Title

                18. E. Creditors: amounts falling due within one year (1) Debenture loans (7) (2) Bank loans and...

                19. This div-1 has a number but no title; creating a P1group with an empty Title

                20. F. Net current assets (liabilities) (11)

                21. This div-1 has a number but no title; creating a P1group with an empty Title

                22. G. Total assets less current liabilities

                23. This div-1 has a number but no title; creating a P1group with an empty Title

                24. H. Creditors: amounts falling due after more than one year (1) Debenture loans (7) (2) Bank...

                25. This div-1 has a number but no title; creating a P1group with an empty Title

                26. I. Provisions for liabilities (1) Pensions and similar obligations (2) Taxation, including deferred taxation (3) Other...

                27. This div-1 has a number but no title; creating a P1group with an empty Title

                28. J. Accruals and deferred income (10)

                29. This div-1 has a number but no title; creating a P1group with an empty Title

                30. K. Capital and reserves (I) Called-up share capital (12) (II ) Share premium account (III) Revaluation...

                32. Balance Sheet Formats

                33. Format 2

                34. ASSETS

                35. This div-1 has a number but no title; creating a P1group with an empty Title

                36. A. Called-up share capital not paid (1)

                37. This div-1 has a number but no title; creating a P1group with an empty Title

                38. B. Fixed assets (I) Intangible assets (1) Development costs (2) Concessions, patents, licences, trade marks and...

                39. This div-1 has a number but no title; creating a P1group with an empty Title

                40. C. Current assets (I) Stocks (1) Raw materials and consumables (2) Work in progress (3) Finished...

                41. This div-1 has a number but no title; creating a P1group with an empty Title

                42. D. Prepayments and accrued income (6)

                43. LIABILITIES

                44. This div-1 has a number but no title; creating a P1group with an empty Title

                45. A. Capital and reserves (I) Called-up share capital (12) (II) Share premium account (III) Revaluation reserve...

                46. This div-1 has a number but no title; creating a P1group with an empty Title

                47. B. Provisions for liabilities (1) Pensions and similar obligations (2) Taxation including deferred taxation (3) Other...

                48. This div-1 has a number but no title; creating a P1group with an empty Title

                49. C. Creditors (13) (1) Debenture loans (7) (2) Bank loans and overdrafts (3) Payments received on...

                50. This div-1 has a number but no title; creating a P1group with an empty Title

                51. D. Accruals and deferred income (10)

                52. Notes on the balance sheet formats Called-up share capital not paid (Formats 1 and 2,...

                53. Profit and loss account formats

                54. Format 1

                55. (see note (17) below) Turnover Cost of sales (14) Gross profit or loss Distribution costs...

                56. Profit and loss account formats

                57. Format 2 Turnover Change in stocks of finished goods and in work in progress Own...

                58. Profit and loss account formats

                59. Format 3

                60. (see note (17) below)

                61. This div-1 has a number but no title; creating a P1group with an empty Title

                62. A. Charges (1) Cost of sales (14) (2) Distribution costs (14) (3) Administrative expenses (14) (4)...

                63. This div-1 has a number but no title; creating a P1group with an empty Title

                64. B. Income (1) Turnover (2) Other operating income (3) Income from shares in group undertakings (4)...

                65. Profit and loss account formats

                66. Format 4

                67. This div-1 has a number but no title; creating a P1group with an empty Title

                68. A. Charges (1) Reduction in stocks of finished goods and in work in progress (2) (a)...

                69. This div-1 has a number but no title; creating a P1group with an empty Title

                70. B. Income (1) Turnover (2) Increase in stocks of finished goods and in work in progress...

                71. Notes on the profit and loss account formats Cost of sales: distribution costs: administrative expenses...

       2. PART II ACCOUNTING PRINCIPLES AND RULES

          1. SECTION A ACCOUNTING PRINCIPLES

             1. Preliminary

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 9. Subject to paragraph 15, the amounts to be included in respect of all items shown...

             2. Accounting principles

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 10. The company shall be presumed to be carrying on business as a going concern.

                3. This div-1 has a number but no title; creating a P1group with an empty Title

                4. 11. Accounting policies shall be applied consistently within the same accounts and from one financial year...

                5. This div-1 has a number but no title; creating a P1group with an empty Title

                6. 12. The amount of any item shall be determined on a prudent basis, and in particular—...

                7. This div-1 has a number but no title; creating a P1group with an empty Title

                8. 13. All income and charges relating to the financial year to which the accounts relate shall...

                9. This div-1 has a number but no title; creating a P1group with an empty Title

                10. 14. In determining the aggregate amount of any item the amount of each individual asset or...

             3. Departure from the accounting principles

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 15. If it appears to the directors of a company that there are special reasons for...

          2. SECTION B HISTORICAL COST ACCOUNTING RULESPreliminary

             1. (16) Subject to sections C and D , the amounts to be included in respect...

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 16. Subject to sections C and D , the amounts to be included in respect of...

             2. Fixed assets

                1. General rules

                2. 17. Subject to any provision for depreciation or diminution in value made in accordance with paragraph...

                3. This div-1 has a number but no title; creating a P1group with an empty Title

                4. 18. In the case of any fixed asset which has a limited useful economic life, the...

                5. This div-1 has a number but no title; creating a P1group with an empty Title

                6. 19. (1) Where a fixed asset investment of a description falling to be included under item...

                7. Rules for determining particular fixed asset items

                8. 20. (1) Notwithstanding that an item in respect of “development costs” is included under “fixed assets”...

                9. This div-1 has a number but no title; creating a P1group with an empty Title

                10. 21. (1) The application of paragraphs 17 to 19 in relation to goodwill (in any case...

             3. Current assets

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 22. Subject to paragraph 23, the amount to be included in respect of any current asset...

                3. This div-1 has a number but no title; creating a P1group with an empty Title

                4. 23. (1) If the net realisable value of any current asset is lower than its purchase...

             4. Miscellaneous and supplementary provisions

                1. Excess of money owed over value received as an asset item

                2. 24. (1) Where the amount repayable on any debt owed by a company is greater than...

                3. Assets included at a fixed amount

                4. 25. (1) Subject to sub-paragraph (2), assets which fall to be included— (a) amongst the fixed...

                5. Determination of purchase price or production cost

                6. 26. (1) The purchase price of an asset shall be determined by adding to the actual...

                7. This div-1 has a number but no title; creating a P1group with an empty Title

                8. 27. (1) Subject to the qualification mentioned below, the purchase price or production cost of— (a)...

                9. Substitution of original stated amount where price or cost unknown

                10. 28. Where there is no record of the purchase price or production cost of any asset...

          3. SECTION C ALTERNATIVE ACCOUNTING RULES

             1. Preliminary

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 29. (1) The rules set out in section B are referred to below in this Schedule...

                3. This div-1 has a number but no title; creating a P1group with an empty Title

                4. 30. Subject to paragraphs 32 to 34, the amounts to be included in respect of assets...

             2. Alternative accounting rules

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 31. (1) Intangible fixed assets, other than goodwill, may be included at their current cost. (2)...

             3. Application of the depreciation rules

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 32. (1) Where the value of any asset of a company is determined on any basis...

             4. Additional information to be provided in case of departure from historical cost accounting rules

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 33. (1) This paragraph applies where the amounts to be included in respect of assets covered...

             5. Revaluation reserve

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 34. (1) With respect to any determination of the value of an asset of a company...

          4. SECTION D FAIR VALUE ACCOUNTING

             1. Inclusion of financial instruments at fair value

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 34A. (1) Subject to sub-paragraphs (2) to (4), financial instruments (including derivatives) may be included at...

             2. Determination of fair value

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 34B. (1) The fair value of a financial instrument is determined in accordance with this paragraph....

             3. Inclusion of hedged items at fair value

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 34C. A company may include any assets and liabilities that qualify as hedged items under a...

             4. Other assets that may be included at fair value

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 34D. (1) This paragraph applies to— (a) investment property, and (b) living animals and plants, that,...

             5. Accounting for changes in value

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 34E. (1) This paragraph applies where a financial instrument is valued in accordance with paragraph 34A...

             6. The fair value reserve

                1. This div-1 has a number but no title; creating a P1group with an empty Title

                2. 34F. (1) The fair value reserve must be adjusted to the extent that the amounts shown...

       3. PART III NOTES TO THE ACCOUNTS

          1. Preliminary

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 35. Any information required in the case of any company by the following provisions of this...

          2. Reserves and dividends

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 35A. There must be stated— (a) any amount set aside or proposed to be set aside...

          3. Disclosure of accounting policies

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 36. The accounting policies adopted by the company in determining the amounts to be included in...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 36A. It shall be stated whether the accounts have been prepared in accordance with applicable accounting...

          4. Information supplementing the balance sheet

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 37. Paragraphs 38 to 51 require information which either supplements the information given with respect to...

             4. Share capital and debentures

             5. 38. (1) The following information shall be given with respect to the company's share capital— (a)...

             6. This div-1 has a number but no title; creating a P1group with an empty Title

             7. 39. If the company has allotted any shares during the financial year, the following information shall...

             8. This div-1 has a number but no title; creating a P1group with an empty Title

             9. 40. (1) With respect to any contingent right to the allotment of shares in the company...

             10. This div-1 has a number but no title; creating a P1group with an empty Title

             11. 41. (1) If the company has issued any debentures during the financial year to which the...

             12. Fixed assets

             13. 42. (1) In respect of each item which is or would but for paragraph 3(4)(b) be...

             14. This div-1 has a number but no title; creating a P1group with an empty Title

             15. 43. Where any fixed assets of the company (other than listed investments) are included under any...

             16. This div-1 has a number but no title; creating a P1group with an empty Title

             17. 44. In relation to any amount which is or would but for paragraph 3(4)(b) be shown...

             18. Investments

             19. 45. (1) In respect of the amount of each item which is or would but for...

             20. Information about fair value of assets and liabilities

             21. 45A. (1) This paragraph applies where financial instruments have been valued in accordance with paragraph 34A...

             22. This div-1 has a number but no title; creating a P1group with an empty Title

             23. 45B. Where the company has derivatives that it has not included at fair value, there must...

             24. This div-1 has a number but no title; creating a P1group with an empty Title

             25. 45C. (1) Sub-paragraph (2) applies if— (a) the company has financial fixed assets that could be...

             26. Information where investment property and living animals and plants included at fair value

             27. 45D. (1) This paragraph applies where the amounts to be included in a company's accounts in...

             28. Reserves and provisions

             29. 46. (1) Where any amount is transferred— (a) to or from any reserves; or (b) to...

             30. Provision for taxation

             31. 47. The amount of any provision for deferred taxation shall be stated separately from the amount...

             32. Details of indebtedness

             33. 48. (1) In respect of each item shown under “creditors” in the company's balance sheet there...

             34. This div-1 has a number but no title; creating a P1group with an empty Title

             35. 49. If any fixed cumulative dividends on the company's shares are in arrear, there shall be...

             36. Guarantees and other financial commitments

             37. 50. (1) Particulars shall be given of any charge on the assets of the company to...

             38. Miscellaneous matters

             39. 51. (1) Particulars shall be given of any case where the purchase price or production cost...

          5. Information supplementing the profit and loss account

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 52. Paragraphs 53 to 57 require information which either supplements the information given with respect to...

             3. Separate statement of certain items of income and expenditure

             4. 53. (1) Subject to the following provisions of this paragraph, each of the amounts mentioned below...

             5. Particulars of tax

             6. 54. Sub-para. (1) rep. by SR 1997/314 (2) Particulars shall be given of any special circumstances...

             7. Particulars of turnover

             8. 55. (1) If in the course of the financial year the company has carried on business...

             9. Para. 56 rep. by SR 2004/496

             11. Miscellaneous matters

             12. 57. (1) Where any amount relating to any preceding financial year is included in any item...

          6. General

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 58. (1) Where sums originally denominated in foreign currencies have been brought into account under any...

             3. Dormant companies acting as agents

             4. 58A. Where the directors of a company take advantage of the exemption conferred by Article 257AA,...

       4. PART IV SPECIAL PROVISIONS WHERE COMPANY IS A PARENT COMPANY OR SUBSIDIARY UNDERTAKING

          1. Company's own accounts

             1. Para. 59 rep. by SR 1997/314

          2. Guarantees and other financial commitments in favour of group undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 59A. Commitments within any of sub‐paragraphs (1) to (5) of paragraph 50 (guarantees and other financial...

          3. Paras. 60‐70 rep. by 1990 NI 5

             1. Paras. 60‐70 rep. by 1990 NI 5

       5. PART V SPECIAL PROVISIONS WHERE THE COMPANY IS AN INVESTMENT COMPANY

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 71. (1) Paragraph 34 does not apply to the amount of any profit or loss arising...

          3. This div-1 has a number but no title; creating a P1group with an empty Title

          4. 72. (1) Any distribution made by an investment company which reduces the amount of its net...

          5. This div-1 has a number but no title; creating a P1group with an empty Title

          6. 73. A company shall be treated as an investment company for the purposes of this Part...

          7. Para. 74 rep. by 1990 NI 5

       6. PART VI SPECIAL PROVISIONS WHERE THE COMPANY HAS ENTERED INTO ARRANGEMENTS SUBJECT TO MERGER RELIEF

          1. Para. 75 rep. by 1990 NI 5

       7. PART VII INTERPRETATION OF SCHEDULE

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 76. The following paragraphs apply for the purposes of this Schedule and its interpretation.

          3. Financial instruments

          4. 76A. References to “derivatives” include commodity‐based contracts that give either contracting party the right to settle...

          5. This div-1 has a number but no title; creating a P1group with an empty Title

          6. 76B. (1) The expressions listed in sub‐paragraph (2) have the same meaning as they have in...

          7. Paras. 77‐80 rep. by 1990 NI 5

          8. Historical cost accounting rules

          9. 81. References to the historical cost accounting rules shall be read in accordance with paragraph 29.

          10. Investment property

          11. 81A. “Investment property” means land held to earn rent or for capital appreciation.

          12. Leases

          13. 82. (1) “Long lease” means a lease in the case of which the portion of the...

          14. Listed investments

          15. 83. (1) “Listed investment” means an investment as respects which there has been granted a listing...

          16. Loans

          17. 84. A loan is treated as falling due for repayment, and an instalment of a loan...

          18. Materiality

          19. 85. Amounts which in the particular context of any provision of this Schedule are not material...

          20. Para. 86 rep. by 1990 NI 5

          21. Provisions

          22. 87. (1) References to provisions for depreciation or diminution in value of assets are to any...

          23. This div-1 has a number but no title; creating a P1group with an empty Title

          24. 88. References to provisions for liabilities are to any amount retained as reasonably necessary for the...

          25. Paras. 89‐91 rep. by 1990 NI 5

          26. Staff costs

          27. 92. (1) “Social security costs” means any contributions by the company to any state social security...

          28. Para. 93 rep. by 1990 NI 5

    5. SCHEDULE 4A

       FORM AND CONTENT OF GROUP ACCOUNTS

       1. General rules

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 1. (1) Group accounts shall comply so far as practicable with the provisions of Article 398A(3)...

          3. This div-1 has a number but no title; creating a P1group with an empty Title

          4. 2. (1) The consolidated balance sheet and profit and loss account shall incorporate in full the...

          5. This div-1 has a number but no title; creating a P1group with an empty Title

          6. 3. (1) Where assets and liabilities to be included in the group accounts have been valued...

          7. This div-1 has a number but no title; creating a P1group with an empty Title

          8. 4. Any differences of accounting rules as between a parent company's individual accounts for a financial...

          9. This div-1 has a number but no title; creating a P1group with an empty Title

          10. 5. Amounts which in the particular context of any provision of this Schedule are not material...

       2. Elimination of group transactions

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 6. (1) Debts and claims between undertakings included in the consolidation, and income and expenditure relating...

       3. Acquisition and merger accounting

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 7. (1) The following provisions apply where an undertaking becomes a subsidiary undertaking of the parent...

          3. This div-1 has a number but no title; creating a P1group with an empty Title

          4. 8. An acquisition shall be accounted for by the acquisition method of accounting unless the conditions...

          5. This div-1 has a number but no title; creating a P1group with an empty Title

          6. 9. (1) The acquisition method of accounting is as follows. (2) The identifiable assets and liabilities...

          7. This div-1 has a number but no title; creating a P1group with an empty Title

          8. 10. (1) The conditions for accounting for an acquisition as a merger are— (a) that at...

          9. This div-1 has a number but no title; creating a P1group with an empty Title

          10. 11. (1) The merger method of accounting is as follows. (2) The assets and liabilities of...

          11. This div-1 has a number but no title; creating a P1group with an empty Title

          12. 12. (1) Where a group is acquired, paragraphs 9 to 11 apply with the following adaptations....

          13. This div-1 has a number but no title; creating a P1group with an empty Title

          14. 13. (1) The following information with respect to acquisitions taking place in the financial year shall...

          15. This div-1 has a number but no title; creating a P1group with an empty Title

          16. 14. (1) There shall also be stated in a note to the accounts the cumulative amount...

          17. This div-1 has a number but no title; creating a P1group with an empty Title

          18. 15. Where during the financial year there has been a disposal of an undertaking or group...

          19. This div-1 has a number but no title; creating a P1group with an empty Title

          20. 16. The information required by paragraph 13, 14 or 15 need not be disclosed with respect...

       4. Minority interests

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 17. (1) The formats set out in Schedule 4 have effect in relation to group accounts...

          3. Para. 18 rep. by SR 2004/496

       5. Joint ventures

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 19. (1) Where an undertaking included in the consolidation manages another undertaking jointly with one or...

       6. Associated undertakings

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 20. (1) An “associated undertaking” means an undertaking in which an undertaking included in the consolidation...

          3. This div-1 has a number but no title; creating a P1group with an empty Title

          4. 21. (1) The formats set out in Schedule 4 have effect in relation to group accounts...

          5. This div-1 has a number but no title; creating a P1group with an empty Title

          6. 22. (1) The interest of an undertaking in an associated undertaking, and the amount of profit...

    6. SCHEDULE 5

       DISCLOSURE OF INFORMATION: RELATED UNDERTAKINGS

       1. PART I COMPANIES NOT REQUIRED TO PREPARE GROUP ACCOUNTS

          1. Subsidiary undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 1. (1) The following information shall be given where at the end of the financial year...

          2. Holdings in subsidiary undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 2. (1) There shall be stated in relation to shares of each class held by the...

          3. Financial information about subsidiary undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 3. (1) There shall be disclosed with respect to each subsidiary undertaking— (a) the aggregate amount...

          4. Financial years subsidiary undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 4. Where— (a) disclosure is made under paragraph 3(1) with respect to a subsidiary undertaking, and...

             3. Para. 5 rep. by SR 1997/314

          5. Shares and debentures of company held by subsidiary undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 6. (1) The number, description and amount of the shares in . . . the company...

          6. Significant holdings in undertakings other than subsidiary undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 7. (1) The information required by paragraphs 8 and 9 shall be given where at the...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 8. (1) The name of the undertaking shall be stated. (2) There shall be stated— (a)...

             5. This div-1 has a number but no title; creating a P1group with an empty Title

             6. 9. (1) . . . ,there shall also be stated— (a) the aggregate amount of the...

          7. Membership of certain undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 9A. (1) The information required by this paragraph shall be given where at the end of...

          8. Para. 10 rep. by SR 1997/314

             1. Para. 10 rep. by SR 1997/314

          9. Parent undertaking drawing up accounts for larger group

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 11. (1) Where the company is a subsidiary undertaking, the following information shall be given with...

          10. Identification of ultimate parent company

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 12. (1) Where the company is a subsidiary undertaking, the following information shall be given with...

          11. Constructions of references to shares held by company

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 13. (1) References in this Part to shares held by a company shall be construed as...

       2. PART II COMPANIES REQUIRED TO PREPARE GROUP ACCOUNTS

          1. Introductory

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 14. In this Part “the group” means the group consisting of the parent company and its...

          2. Subsidiary undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 15. (1) The following information shall be given with respect to the undertakings which are subsidiary...

          3. Holdings in subsidiary undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 16. (1) The following information shall be given with respect to the shares of a subsidiary...

          4. Financial information about subsidiary undertakings not included in the consolidation

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 17. (1) There shall be shown with respect to each subsidiary undertaking not included in the...

          5. Paras. 18, 19 rep. by SR 1997/314

             1. Paras. 18, 19 rep. by SR 1997/314

          6. Shares and debentures of company held by subsidiary undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 20. (1) The number, description and amount of the shares in . . . the company...

          7. Joint ventures

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 21. (1) The following information shall be given where an undertaking is dealt with in the...

          8. Associated undertakings

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 22. (1) The following information shall be given where an undertaking included in the consolidation has...

          9. Other significant holdings of parent company or group

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 23. (1) The information required by paragraphs 24 and 25 shall be given where at the...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 24. (1) The name of the undertaking shall be stated. (2) There shall be stated— (a)...

             5. This div-1 has a number but no title; creating a P1group with an empty Title

             6. 25. (1) . . . there shall also be stated— (a) the aggregate amount of the...

             7. This div-1 has a number but no title; creating a P1group with an empty Title

             8. 26. (1) The information required by paragraphs 27 and 28 shall be given where at the...

             9. This div-1 has a number but no title; creating a P1group with an empty Title

             10. 27. (1) The name of the undertaking shall be stated. (2) There shall be stated— (a)...

             11. This div-1 has a number but no title; creating a P1group with an empty Title

             12. 28. (1) . . . there shall also be stated— (a) the aggregate amount of the...

          10. Parent company's or group's membership of certain undertakings

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 28A. (1) The information required by this paragraph shall be given where at the end of...

          11. Para. 29 rep. by SR 1997/314

              1. Para. 29 rep. by SR 1997/314

          12. Parent undertaking drawing up accounts for larger group

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 30. (1) Where the parent company is itself a subsidiary undertaking, the following information shall be...

          13. Identification of ultimate parent company

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 31. (1) Where the parent company is itself a subsidiary undertaking, the following information shall be...

          14. Construction of references to shares held by parent company or group

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 32. (1) References in this Part to shares held by the parent company or the group...

    7. SCHEDULE 6

       DISCLOSURE OF INFORMATION: EMOLUMENTS AND OTHER BENEFITS OF DIRECTORS AND OTHERS

       1. PART I CHAIRMAN'S AND DIRECTORS' EMOLUMENTS, PENSIONS AND COMPENSATION FOR LOSS OF OFFICE

          1. CHAPTER 1 PROVISIONS APPLYING TO QUOTED AND UNQUOTED COMPANIES

             1. Aggregate amount of directors' emoluments etc.

             2. 1. (1) Subject to sub-paragraph (2), the following shall be shown, namely— (a) the aggregate amount...

          2. CHAPTER II PROVISIONS APPLYING ONLY TO UNQUOTED COMPANIES

             1. Details of highest paid director's emoluments etc.

             2. 2. (1) Where the aggregates shown under paragraph 1(1)(a), (b) and (c) total ÿ£200,000 or more,...

             3. Excess retirement benefits of directors and past directors

             4. 7. (1) Subject to sub-paragraph (2) there shall be shown the aggregate amount of— (a) so...

             5. Compensation to directors for loss of office

             6. 8. (1) There shall be shown the aggregate amount of any compensation to directors or past...

             7. Sums paid to third parties in respect of directors' services

             8. 9. (1) There shall be shown the aggregate amount of any consideration paid to or receivable...

             9. Supplementary

             10. 10. (1) The following applies with respect to the amounts to be shown under this Part...

             11. This div-1 has a number but no title; creating a P1group with an empty Title

             12. 11. (1) The amounts to be shown for any financial year under this Part are the...

             13. This div-1 has a number but no title; creating a P1group with an empty Title

             14. 12. Where it is necessary to do so for the purpose of making any distinction required...

             15. Interpretation

             16. 13. (1) The following applies for the interpretation of this Part. (2) A reference to a...

             17. Supplementary

             18. 14. This Part requires information to be given only so far as it is contained in...

       2. PART II LOANS, QUASI‐LOANS AND OTHER DEALINGS IN FAVOUR OF DIRECTORS

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 15. The group accounts of a holding company, or if it is not required to prepare...

          3. This div-1 has a number but no title; creating a P1group with an empty Title

          4. 16. The accounts prepared by a company other than a holding company shall contain the particulars...

          5. This div-1 has a number but no title; creating a P1group with an empty Title

          6. 17. (1) For the purposes of paragraphs 15(c) and 16(c) , a transaction or arrangement between...

          7. This div-1 has a number but no title; creating a P1group with an empty Title

          8. 18. Paragraphs 15 and 16 do not apply in relation to the following transactions, arrangements and...

          9. This div-1 has a number but no title; creating a P1group with an empty Title

          10. 19. Paragraphs 15 and 16 apply whether or not— (a) the transaction or arrangement was prohibited...

          11. This div-1 has a number but no title; creating a P1group with an empty Title

          12. 20. Neither paragraph 15(c) nor paragraph 16(c) applies in relation to any transaction or arrangement if—...

          13. This div-1 has a number but no title; creating a P1group with an empty Title

          14. 21. Neither paragraph 15(c) nor paragraph 16(c) applies in relation to any transaction or arrangement if—...

          15. The particulars required by this Part

          16. 22. (1) Subject to paragraph 23 , the particulars by this Part are those of the...

          17. This div-1 has a number but no title; creating a P1group with an empty Title

          18. 23. In paragraph 22(2) , heads (c) to (f) do not apply in the case of...

          19. Excluded transactions

          20. 24. (1) In relation to a company's accounts for a financial year, compliance with this Part...

          21. This div-1 has a number but no title; creating a P1group with an empty Title

          22. 25. In relation to a company's accounts for a financial year, compliance with this Part is...

          23. For this purpose a company's net assets are the aggregate of its assets less the...

          24. This div-1 has a number but no title; creating a P1group with an empty Title

          25. 26. Article 353 (power of Department to alter sums by order subject to negative resolution) applies...

          26. Interpretation

          27. 27. (1) The following provisions apply for the purposes of this Part— (a) Article 339(2), ....

       3. PART III OTHER TRANSACTIONS, ARRANGEMENTS AND AGREEMENTS

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 28. This Part applies in relation to the following classes of transactions, arrangements and agreements— (a)...

          3. This div-1 has a number but no title; creating a P1group with an empty Title

          4. 29. (1) To comply with this Part, the accounts must contain a statement, in relation to...

          5. This div-1 has a number but no title; creating a P1group with an empty Title

          6. 30. The following provisions apply for the purposes of this Part— (a) Article 339(2), (3), ....

    8. SCHEDULE 7

       MATTERS TO BE DEALT WITH IN DIRECTORS' REPORT

       1. PART I MATTERS OF A GENERAL NATURE

          1. Asset values

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 1. Sub-para. (1) rep. by SR 1997/314 (2) If, in the case of such of the...

          2. Directors' interests

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 2. (1) The information required by paragraphs 2A and 2B shall be given in the directors'...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 2A. (1) It shall be stated with respect to each director whether, according to the register,...

             5. This div-1 has a number but no title; creating a P1group with an empty Title

             6. 2B. (1) It shall be stated with respect to each director whether, according to the register,...

          3. Political and charitable gifts

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 3. (1) The following applies if the company (not being the wholly-owned subsidiary of a company...

             3. This div-1 has a number but no title; creating a P1group with an empty Title

             4. 4. (1) Paragraph 3 does not apply to a company which, at the end of the...

             5. This div-1 has a number but no title; creating a P1group with an empty Title

             6. 5. (1) This paragraph applies for the interpretation of paragraphs 3 and 4. (2) A company...

             7. Para. 5A rep. by SR 1997/314

          4. Miscellaneous

             1. This div-1 has a number but no title; creating a P1group with an empty Title

             2. 6. (1) The directors' report shall contain— (a) particulars of any important event affecting the company...

       2. PART II DISCLOSURE REQUIRED BY COMPANY ACQUIRING ITS OWN SHARES, ETC.

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 7. This Part applies where shares in a company— (a) are purchased by the company or...

          3. This div-1 has a number but no title; creating a P1group with an empty Title

          4. 8. The directors' report with respect to a financial year shall state— (a) the number and...

       3. PART III DISCLOSURE CONCERNING EMPLOYMENT, ETC. OF DISABLED PERSONS

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 9. (1) This Part applies to the directors' report where the average number of persons employed...

       4. Part IV rep. by SR 1997/314

       5. PART V EMPLOYEE INVOLVEMENT

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 11. (1) This part applies to the director's report where the average number of persons employed...

       6. Part VI Policy and Practice on Payment of Creditors

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 12. (1) This Part applies to the directors report for a financial year if— (a) the...

    9. SCHEDULE 7ZA

       OPERATING AND FINANCIAL REVIEW

       1. Review objective

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 1. An operating and financial review is a balanced and comprehensive analysis, consistent with the size...

       2. Other general requirements

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 2. The review must include— (a) a statement of the business, objectives and strategies of the...

       3. Details of particular matters

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 3. (1) To the extent necessary to comply with the general requirements of paragraphs 1 and...

          3. This div-1 has a number but no title; creating a P1group with an empty Title

          4. 4. (1) The review must include— (a) information about environmental matters (including the impact of the...

          5. This div-1 has a number but no title; creating a P1group with an empty Title

          6. 5. The review must also include— (a) information about persons with whom the company has contractual...

          7. This div-1 has a number but no title; creating a P1group with an empty Title

          8. 6. (1) The review must include analysis using financial and, where appropriate, other key performance indicators,...

       4. Reference to and explanation of company accounts

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 7. To the extent necessary to comply with the general requirements of paragraphs 1 and 2,...

       5. Application of Schedule to group operating and financial review

          1. This div-1 has a number but no title; creating a P1group with an empty Title

          2. 8. In relation to a group operating and financial review this Schedule has effect as if...

    10. SCHEDULE 7A

        DIRECTORS' REMUNERATION REPORT

        1. PART I INTRODUCTORY

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 1. (1) In the directors' remuneration report for a financial year ( “the relevant financial year”)...

        2. PART II INFORMATION NOT SUBJECT TO AUDIT

           1. Consideration by the directors of matters relating to directors' remuneration

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 2. (1) If a committee of the company's directors has considered matters relating to the directors'...

           2. Statement of company's policy on directors' remuneration

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 3. (1) The directors' remuneration report shall contain a statement of the company's policy on directors'...

           3. Performance graph

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 4. (1) The directors' remuneration report shall— (a) contain a line graph that shows for each...

           4. Service contracts

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 5. (1) The directors' remuneration report shall contain, in respect of the contract of service or...

        3. PART III INFORMATION SUBJECT TO AUDIT

           1. Amount of each director's emoluments and compensation in the relevant financial year

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 6. (1) The directors' remuneration report shall for the relevant financial year show, for each person...

           2. Share options

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 7. (1) The directors' remuneration report shall contain, in respect of each person who has served...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 8. The information required by sub‐paragraph (1) of paragraph 7 in respect of such a person...

              5. This div-1 has a number but no title; creating a P1group with an empty Title

              6. 9. (1) If, in the opinion of the directors of the company, disclosure in accordance with...

           3. Long-term incentive schemes

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 10. (1) The directors' remuneration report shall contain, in respect of each person who has served...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 11. (1) The information required by sub‐paragraph (1) of paragraph 10 in respect of such a...

           4. Pensions

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 12. (1) The directors' remuneration report shall, for each person who has served as a director...

           5. Excess retirement benefits of directors and past directors

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 13. (1) Subject to sub‐paragraph (3), the directors' remuneration report shall show in respect of each...

           6. Compensation for past directors

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 14. The directors' remuneration report shall contain details of any significant award made in the relevant...

           7. Sums paid to third parties in respect of a director's services

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 15. (1) The directors' remuneration report shall show, in respect of each person who served as...

        4. PART IV INTERPRETATION AND SUPPLEMENTARY

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 16. (1) In this Schedule— “amount”, in relation to a gain made on the exercise of...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 17. (1) For the purposes of this Schedule emoluments paid or receivable or share options granted...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 18. (1) The following applies with respect to the amounts to be shown under this Schedule....

           7. This div-1 has a number but no title; creating a P1group with an empty Title

           8. 19. (1) The amounts to be shown for any financial year under Part III are the...

           9. This div-1 has a number but no title; creating a P1group with an empty Title

           10. 20. Where it is necessary to do so for the purpose of making any distinction required...

           11. This div-1 has a number but no title; creating a P1group with an empty Title

           12. 21. This Schedule requires information to be given only so far as it is contained in...

    11. Schedule 7B prosp insertion by 2005 NI 17, Sch. 1

    12. SCHEDULE 8

        FORM AND CONTENT OF ACCOUNTS PREPARED BY SMALL COMPANIES

        1. PART I GENERAL RULES AND FORMATS

           1. SECTION A GENERAL RULES

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 1. (1) Subject to the following provisions of this Schedule— (a) every balance sheet of a...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 2. (1) Where in accordance with paragraph 1 a small company's balance sheet or profit and...

              5. This div-1 has a number but no title; creating a P1group with an empty Title

              6. 3. (1) Any item required in accordance with paragraph 1 to be shown in a small...

              7. This div-1 has a number but no title; creating a P1group with an empty Title

              8. 4. (1) In respect of every item shown in a small company's balance sheet or profit...

              9. This div-1 has a number but no title; creating a P1group with an empty Title

              10. 5. Amounts in respect of items representing assets or income may not be set off against...

              11. This div-1 has a number but no title; creating a P1group with an empty Title

              12. 5A. The directors of a company must, in determining how amounts are presented within items in...

           2. SECTION B THE REQUIRED FORMATS FOR ACCOUNTS

              1. Preliminary

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 6. References in this Part to the items listed in any of the formats set out...

                 3. This div-1 has a number but no title; creating a P1group with an empty Title

                 4. 7. A number in brackets following any item in any of the formats set out below...

                 5. This div-1 has a number but no title; creating a P1group with an empty Title

                 6. 8. In the notes following the formats— (a) the heading of each note gives the required...

                 7. Balance Sheet Formats

                 8. Format 1

                 9. This div-1 has a number but no title; creating a P1group with an empty Title

                 10. A. Called-up share capital not paid (1)

                 11. This div-1 has a number but no title; creating a P1group with an empty Title

                 12. B. Fixed assets (I) Intangible assets (1) Goodwill (2) (2) Other intangible assets (3) (II) Tangible...

                 13. This div-1 has a number but no title; creating a P1group with an empty Title

                 14. C. Current assets (I) Stocks (1) Stocks (2) Payments on account (II) Debtors (5) (1) Trade...

                 15. This div-1 has a number but no title; creating a P1group with an empty Title

                 16. D. Prepayments and accrued income (6)

                 17. This div-1 has a number but no title; creating a P1group with an empty Title

                 18. E. Creditors: amounts falling due within one year (1) Bank loans and overdrafts (2) Trade creditors...

                 19. This div-1 has a number but no title; creating a P1group with an empty Title

                 20. F. Net current assets (liabilities) (8)

                 21. This div-1 has a number but no title; creating a P1group with an empty Title

                 22. G. Total assets less current liabilities

                 23. This div-1 has a number but no title; creating a P1group with an empty Title

                 24. H. Creditors: amounts falling due after more than one year (1) Bank loans and overdrafts (2)...

                 25. This div-1 has a number but no title; creating a P1group with an empty Title

                 26. I. Provisions for liabilities

                 27. This div-1 has a number but no title; creating a P1group with an empty Title

                 28. J. Accruals and deferred income (7)

                 29. This div-1 has a number but no title; creating a P1group with an empty Title

                 30. K. Capital and reserves (I) Called up share capital (9) (II) Share premium account (III) Revaluation...

                 32. Balance Sheet Formats

                 33. Format 2

                 34. ASSETS

                 35. This div-1 has a number but no title; creating a P1group with an empty Title

                 36. A. Called up share capital not paid (1)

                 37. This div-1 has a number but no title; creating a P1group with an empty Title

                 38. B. Fixed assets (I) Intangible assets (1) Goodwill (2) (2) Other intangible assets (3) (II) Tangible...

                 39. This div-1 has a number but no title; creating a P1group with an empty Title

                 40. C. Current assets (I) Stocks (1) Stocks (2) Payments on account (II) Debtors (5) (1) Trade...

                 41. This div-1 has a number but no title; creating a P1group with an empty Title

                 42. D. Prepayments and accrued income (6)

                 43. LIABILITIES

                 44. This div-1 has a number but no title; creating a P1group with an empty Title

                 45. A. Capital and reserves (I) Called up share capital (9) (II) Share premium account (III) Revaluation...

                 46. This div-1 has a number but no title; creating a P1group with an empty Title

                 47. B. Provisions for liabilities

                 48. This div-1 has a number but no title; creating a P1group with an empty Title

                 49. C. Creditors (10) (1) Bank loans and overdrafts (2) Trade creditors (3) Amounts owed to group...

                 50. This div-1 has a number but no title; creating a P1group with an empty Title

                 51. D. Accruals and deferred income (7)

                 52. Notes on the balance sheet formats Called-up share capital not paid (Formats 1 and 2,...

                 53. Profit and loss account formats

                 54. Format 1

                 55. (see note (14) below) Turnover Cost of sales (11) Gross profit or loss Distribution costs...

                 56. Profit and loss account formats

                 57. Format 2 Turnover Change in stocks of finished goods and in work in progress Own...

                 58. Profit and loss account formats

                 59. Format 3

                 60. (see note (14) below)

                 61. This div-1 has a number but no title; creating a P1group with an empty Title

                 62. A. Charges (1) Cost of sales (11) (2) Distribution costs (11) (3) Administrative expenses (11) (4)...

                 63. This div-1 has a number but no title; creating a P1group with an empty Title

                 64. B. Income (1) Turnover (2) Other operating income (3) Income from shares in group undertakings (4)...

                 65. Profit and loss account formats

                 66. Format 4

                 67. This div-1 has a number but no title; creating a P1group with an empty Title

                 68. A. Charges (1) Reduction in stock of finished goods and in work in progress. (2) (a)...

                 69. This div-1 has a number but no title; creating a P1group with an empty Title

                 70. B. Income (1) Turnover (2) Increase in stocks of finished goods and in work in progress...

                 71. Notes on the profit and loss account formats Cost of sales: distribution costs: administrative expenses...

        2. PART II ACCOUNTING PRINCIPLES AND RULES

           1. SECTION A ACCOUNTING PRINCIPLES

              1. Preliminary

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 9. Subject to paragraph 15, the amounts to be included in respect of all items shown...

              2. Accounting principles

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 10. The company shall be presumed to be carrying on business as a going concern.

                 3. This div-1 has a number but no title; creating a P1group with an empty Title

                 4. 11. Accounting policies shall be applied consistently within the same accounts and from one financial year...

                 5. This div-1 has a number but no title; creating a P1group with an empty Title

                 6. 12. The amount of any item shall be determined on a prudent basis, and in particular—...

                 7. This div-1 has a number but no title; creating a P1group with an empty Title

                 8. 13. All income and charges relating to the financial year to which the accounts relate shall...

                 9. This div-1 has a number but no title; creating a P1group with an empty Title

                 10. 14. In determining the aggregate amount of any item the amount of each individual asset or...

              3. Departure from the accounting principles

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 15. If it appears to the directors of a small company that there are special reasons...

           2. SECTION B HISTORICAL COST ACCOUNTING RULES

              1. Preliminary

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 16. Subject to sections C and D , the amounts to be included in respect of...

              2. Fixed assets

                 1. General rules

                 2. 17. Subject to any provision of depreciation or diminution in value made in accordance with paragraph...

                 3. This div-1 has a number but no title; creating a P1group with an empty Title

                 4. 18. In the case of any fixed asset which has a limited useful economic life, the...

                 5. This div-1 has a number but no title; creating a P1group with an empty Title

                 6. 19. (1) Where a fixed asset investment of a description falling to be included under item...

                 7. Rules for determining particular fixed asset items

                 8. 20. (1) Notwithstanding that an item in respect of “development costs” is included under “fixed assets”...

                 9. This div-1 has a number but no title; creating a P1group with an empty Title

                 10. 21. (1) The application of paragraphs 17 to 19 in relation to goodwill (if any case...

              3. Current assets

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 22. Subject to paragraph 23, the amount to be included in respect of any current asset...

                 3. This div-1 has a number but no title; creating a P1group with an empty Title

                 4. 23. (1) If the net realisable value of any current asset is lower than its purchase...

              4. Miscellaneous and supplementary provisions

                 1. Excess of money owed over value received as an asset item

                 2. 24. (1) Where the amount repayable on any debt owed by a small company is greater...

                 3. Assets included at a fixed amount

                 4. 25. (1) Subject to the following sub-paragraph, assets which fall to be included— (a) amongst the...

                 5. Determination of purchase price or production cost

                 6. 26. (1) The purchase price of an asset shall be determined by adding to the actual...

                 7. This div-1 has a number but no title; creating a P1group with an empty Title

                 8. 27. (1) Subject to the qualification mentioned below, the purchase price or production cost of— (a)...

                 9. Substitution of original stated amount where price or cost unknown

                 10. 28. Where there is no need of the purchase price or production cost of any asset...

           3. SECTION C ALTERNATIVE ACCOUNTING RULES

              1. Preliminary

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 29. (1) The rules set out in section B are referred to in this Schedule as...

                 3. This div-1 has a number but no title; creating a P1group with an empty Title

                 4. 30. Subject to paragraphs 32 to 34, the amounts to be included in respect of assets...

              2. Alternative accounting rules

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 31. (1) Intangible fixed assets, other than goodwill, may be included at their current cost. (2)...

              3. Application of the depreciation rules

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 32. Where the value of any asset of a small company is determined on any basis...

                 3. Additional information to be provided in case of departure from historical cost accounting rules

                 4. 33. (1) This paragraph applies where the amounts to be included in respect of assets covered...

              4. Revaluation reserve

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 34. (1) With respect to any determination of the value of an asset of a small...

           4. SECTION D FAIR VALUE ACCOUNTING

              1. Inclusion of financial instruments at fair value

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 34A. (1) Subject to sub‐paragraphs (2) to (4), financial instruments (including derivatives) may be included at...

              2. Determination of fair value

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 34B. (1) The fair value of a financial instrument is determined in accordance with this paragraph....

              3. Inclusion of hedged items at fair value

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 34C. A company may include any assets and liabilities that qualify as hedged items under a...

              4. Other assets that may be included at fair value

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 34D. (1) This paragraph applies to— (a) investment property, and (b) living animals and plants, that,...

              5. Accounting for changes in value

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 34E. (1) This paragraph applies where a financial instrument is valued in accordance with paragraph 34A...

              6. The fair value reserve

                 1. This div-1 has a number but no title; creating a P1group with an empty Title

                 2. 34F. (1) The fair value reserve must be adjusted to the extent that the amounts shown...

        3. PART III NOTES TO THE ACCOUNTS

           1. Preliminary

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 35. Any information required in the case of any small company by the following provisions of...

           2. Reserves and dividends

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 35A. There must be stated— (a) any amount set aside or proposed to be set aside...

           3. Disclosure of account policies

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 36. The accounting policies adopted by the company in determining the amounts to be included in...

           4. Information supplementing the balance sheet

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 37. Paragraphs 38 to 47 require information which either supplements the information given with respect to...

              4. Share capital and debentures

              5. 38. (1) The following information shall be given with respect to the company's share capital— (a)...

              6. This div-1 has a number but no title; creating a P1group with an empty Title

              7. 39. If the company has allotted any shares during the financial year, the following information shall...

              8. Fixed assets

              9. 40. (1) In respect of each item which is or would but for paragraph 3(4)(b) be...

              10. This div-1 has a number but no title; creating a P1group with an empty Title

              11. 41. Where any fixed assets of the company (other than listed investments) are included under any...

              12. Investments

              13. 42. (1) In respect of the amount of each item which is or would but for...

              14. Information about fair value of assets and liabilities

              15. 42A. (1) This paragraph applies where financial instruments have been valued in accordance with paragraph 34A...

              16. This div-1 has a number but no title; creating a P1group with an empty Title

              17. 42B. (1) Sub‐paragraph (2) applies if— (a) the company has financial fixed assets that could be...

              18. Information where investment property and living animals and plants included at fair value

              19. 42C. (1) This paragraph applies where the amounts to be included in a company's accounts in...

              20. Reserves and provisions

              21. 43. (1) Where any amount is transferred— (a) to or from any reserves; or (b) to...

              22. Details of indebtedness

              23. 44. (1) For the aggregate of all items shown under “creditors” in the company's balance sheet...

              24. This div-1 has a number but no title; creating a P1group with an empty Title

              25. 45. If any fixed cumulative dividends on the company's shares are in arrear, there shall be...

              26. Guarantees and other financial commitments

              27. 46. (1) Particulars shall be given of any charge on the assets of the company to...

              28. Miscellaneous matters

              29. 47. Particulars shall be given of any case where the purchase price or production cost of...

           5. Information supplementing the profit and loss account

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 48. Paragraphs 49 and 50 require information which either supplements the information given with respect to...

              3. Particulars of turnover

              4. 49. (1) If the company has supplied geographical markets outside the United Kingdom during the financial...

              5. Miscellaneous matters

              6. 50. (1) Where any amount relating to any preceding financial year is included in any item...

           6. General

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 51. (1) Where sums originally denominated in foreign currencies have been brought into account under any...

              3. Dormant companies acting as agents

              4. 51A. Where the directors of a company take advantage of the exemption conferred by Article 257AA,...

        4. PART IV INTERPRETATION OF SCHEDULE

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 52. The following paragraphs apply for the purposes of this Schedule and its interpretation.

           3. Financial instruments

           4. 52A. References to “derivatives” include commodity‐based contracts that give either contracting party the right to settle...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 52B. (1) The expressions listed in sub‐paragraph (2) have the same meaning as they have in...

           7. Historical cost accounting rules

           8. 53. References to the historical cost accounting rules shall be read in accordance with paragraph 29.

           9. Investment property

           10. 53A. “Investment property” means land held to earn rent or for capital appreciation.

           11. Listed investments

           12. 54. (1) “Listed investment” means an investment as respects which there has been granted a listing...

           13. Loans

           14. 55. A loan is treated as falling due for repayment, and an instalment of a loan...

           15. Materiality

           16. 56. Amounts which in the particular context of any provision of this Schedule are not material...

           17. Provisions

           18. 57. (1) References to provisions for depreciation or diminution in value of assets are to any...

           19. This div-1 has a number but no title; creating a P1group with an empty Title

           20. 58. References to provisions for liabilities are to any amount retained as reasonably necessary for the...

           21. Staff costs

           22. 59. (1) “Social security costs” means any contributions by the company to any state social security...

    13. SCHEDULE 8A

        Form and Content of Abbreviated Accounts of Small Companies delivered to Registrar

        1. PART I BALANCE SHEET FORMATS

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 1. A small company may deliver to the registrar a copy of the balance sheet showing...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 2. The formats referred to in paragraph 1 are as follows—

           5. Balance Sheet Formats

           6. Format 1

           7. This div-1 has a number but no title; creating a P1group with an empty Title

           8. A. Called-up share capital not paid

           9. This div-1 has a number but no title; creating a P1group with an empty Title

           10. B. Fixed assets (I) Intangible assets (II) Tangible assets (III) Investments

           11. This div-1 has a number but no title; creating a P1group with an empty Title

           12. C. Current assets (I) Stocks (II) Debtors (1) (III) Investments (IV) Cash at bank and in...

           13. This div-1 has a number but no title; creating a P1group with an empty Title

           14. D. Prepayments and accrued income

           15. This div-1 has a number but no title; creating a P1group with an empty Title

           16. E. Creditors: amounts falling due within one year

           17. This div-1 has a number but no title; creating a P1group with an empty Title

           18. F. Net current assets (liabilities)

           19. This div-1 has a number but no title; creating a P1group with an empty Title

           20. G. Total assets less current liabilities

           21. This div-1 has a number but no title; creating a P1group with an empty Title

           22. H. Creditors: amounts falling due after more than one year

           23. This div-1 has a number but no title; creating a P1group with an empty Title

           24. I. Provisions for liabilities

           25. This div-1 has a number but no title; creating a P1group with an empty Title

           26. J. Accruals and deferred income

           27. This div-1 has a number but no title; creating a P1group with an empty Title

           28. K. Capital and reserves (I) Called up share capital (II) Share premium account (III) Revaluation reserve...

           29. Balance Sheet Formats

           30. Format 2

           31. ASSETS

           32. This div-1 has a number but no title; creating a P1group with an empty Title

           33. A. Called up share capital not paid

           34. This div-1 has a number but no title; creating a P1group with an empty Title

           35. B. Fixed assets (I) Intangible assets (II) Tangible assets (III) Investments

           36. This div-1 has a number but no title; creating a P1group with an empty Title

           37. C. Current assets (I) Stocks (II) Debtors (1) (III) Investments (IV) Cash at bank and in...

           38. This div-1 has a number but no title; creating a P1group with an empty Title

           39. D. Prepayments and accrued income

           40. LIABILITIES

           41. This div-1 has a number but no title; creating a P1group with an empty Title

           42. A. Capital and reserves (I) Called up share capital (II) Share premium account (III) Revaluation reserve...

           43. This div-1 has a number but no title; creating a P1group with an empty Title

           44. B. Provisions for liabilities

           45. This div-1 has a number but no title; creating a P1group with an empty Title

           46. C. Creditors (2)

           47. This div-1 has a number but no title; creating a P1group with an empty Title

           48. D. Accrurals and deferred income

           49. Notes on the balance sheet formats Debtors (Formats 1 and 2, item C.II.) The aggregate...

        2. PART II NOTES TO THE ACCOUNTS

           1. Preliminary

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 3. Any information required in the case of any small company by the following provisions of...

           2. Disclosure of accounting policies

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 4. The accounting policies adopted by the company in determining the amounts to be included in...

           3. Information supplementing the balance sheet

              1. Share capital and debentures

              2. 5. (1) The following information shall be given with respect to the company's share capital— (a)...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 6. If the company has allotted any shares during the financial year, the following information shall...

              5. Fixed assets

              6. 7. (1) In respect of each item to which a letter or Roman number is assigned...

              7. Financial fixed assets

              8. 7A. (1) Sub‐paragraph (2) applies if— (a) the company has financial fixed assets that could be...

              9. Details of indebtedness

              10. 8. (1) For the aggregate of all items shown under “creditors” in the company's balance sheet...

           4. General

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 9. (1) Where sums originally denominated in foreign currencies have been brought into account under any...

              3. Dormant companies acting as agents

              4. 9A. Where the directors of a company take advantage of the exemption conferred by Article 257AA,...

    14. SCHEDULE 9

        Form and Content of Accounts of Banking Companies and Groups

        1. PART I INDIVIDUAL ACCOUNTS

           1. CHAPTER I GENERAL RULES AND FORMATS

           2. SECTION A GENERAL RULES

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 1. (1) Subject to the following provisions of this Part: (a) every balance sheet of a...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 2. (1) Where in accordance with paragraph 1 a company's profit and loss account for any...

              5. This div-1 has a number but no title; creating a P1group with an empty Title

              6. 3. (1) Any item required in accordance with paragraph 1 to be shown in a company's...

              7. This div-1 has a number but no title; creating a P1group with an empty Title

              8. 4. (1) In respect of every item shown in the balance sheet or profit and loss...

              9. This div-1 has a number but no title; creating a P1group with an empty Title

              10. 5. (1) Subject to the following provisions of this paragraph and without prejudice to note (6)...

              11. This div-1 has a number but no title; creating a P1group with an empty Title

              12. 6. (1) Assets shall be shown under the relevant balance sheet headings even where the company...

              13. This div-1 has a number but no title; creating a P1group with an empty Title

              14. 7. Assets acquired in the name of and on behalf of third parties shall not be...

              15. Para. 8 rep. by SR 2004/496

              16. This div-1 has a number but no title; creating a P1group with an empty Title

              17. 8A. The directors of a company must, in determining how amounts are presented within items in...

           3. SECTION B THE REQUIRED FORMATS FOR ACCOUNTS

           4. Preliminary

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 9. (1) References in this Part to the balance sheet format or to profit and loss...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 10. A number in brackets following any item in any of the formats set out below...

           5. Balance Sheet Format

              1. ASSETS

              2. This div-1 has a number but no title; creating a P1group with an empty Title

              3. 1. Cash and balances at central [or post office] banks (1)

              4. This div-1 has a number but no title; creating a P1group with an empty Title

              5. 2. Treasury bills and other eligible bills (20) (a) Treasury bills and similar securities (2) (b)...

              6. This div-1 has a number but no title; creating a P1group with an empty Title

              7. 3. Loans and advances to banks (4), (20) (a) Repayable on demand (b) Other loans and...

              8. This div-1 has a number but no title; creating a P1group with an empty Title

              9. 4. Loans and advances to customers (5), (20)

              10. This div-1 has a number but no title; creating a P1group with an empty Title

              11. 5. Debt securities [and other fixed income securities] (6), (20) (a) Issued by public bodies (b)...

              12. This div-1 has a number but no title; creating a P1group with an empty Title

              13. 6. Equity shares [and other variable-yield securities]

              14. This div-1 has a number but no title; creating a P1group with an empty Title

              15. 7. Participating interests

              16. This div-1 has a number but no title; creating a P1group with an empty Title

              17. 8. Shares in group undertakings

              18. This div-1 has a number but no title; creating a P1group with an empty Title

              19. 9. Intangible fixed assets (7)

              20. This div-1 has a number but no title; creating a P1group with an empty Title

              21. 10. Tangible fixed assets (8)

              22. This div-1 has a number but no title; creating a P1group with an empty Title

              23. 11. Called up capital not paid (9)

              24. This div-1 has a number but no title; creating a P1group with an empty Title

              25. 12. Own Shares (10)

              26. This div-1 has a number but no title; creating a P1group with an empty Title

              27. 13. Other assets

              28. This div-1 has a number but no title; creating a P1group with an empty Title

              29. 14. Called up capital not paid (9)

              30. This div-1 has a number but no title; creating a P1group with an empty Title

              31. 15. Prepayments and accrued income

              32. Total assets

              33. LIABILITIES

              34. This div-1 has a number but no title; creating a P1group with an empty Title

              35. 1. Deposits by banks (11), (20) (a) Repayable on demand (b) With agreed maturity dates or...

              36. This div-1 has a number but no title; creating a P1group with an empty Title

              37. 2. Customer accounts (12), (20) (a) Repayable on demand (b) With agreed maturity dates or periods...

              38. This div-1 has a number but no title; creating a P1group with an empty Title

              39. 3. Debt securities in issue (13), (20) (a) Bonds and medium term notes (b) Others

              40. This div-1 has a number but no title; creating a P1group with an empty Title

              41. 4. Other liabilities

              42. This div-1 has a number but no title; creating a P1group with an empty Title

              43. 5. Accruals and deferred income

              44. This div-1 has a number but no title; creating a P1group with an empty Title

              45. 6. Provisions for liabilities (a) Provisions for pensions and similar obligations (b) Provisions for tax (c)...

              46. This div-1 has a number but no title; creating a P1group with an empty Title

              47. 7. Subordinated liabilities (14), (20)

              48. This div-1 has a number but no title; creating a P1group with an empty Title

              49. 8. Called up share capital (15)

              50. This div-1 has a number but no title; creating a P1group with an empty Title

              51. 9. Share premium account

              52. This div-1 has a number but no title; creating a P1group with an empty Title

              53. 10. Reserves (a) Capital redemption reserve (b) Reserve for own shares (c) Reserves provided for by...

              54. This div-1 has a number but no title; creating a P1group with an empty Title

              55. 11. Revaluation reserve

              56. This div-1 has a number but no title; creating a P1group with an empty Title

              57. 12. Profit and loss account

              58. Total liabilities

              59. MEMORANDUM ITEMS

              60. This div-1 has a number but no title; creating a P1group with an empty Title

              61. 1. Contingent liabilities (16) (1) Acceptances and endorsements (2) Guarantees and assets pledged as collateral security...

              62. This div-1 has a number but no title; creating a P1group with an empty Title

              63. 2. Commitments (18) (1) Commitments arising out of sale and option to resell transactions (19) (2)...

           6. Notes on the balance sheet format and memorandum items

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 1. Cash and balances at central [or post office] banks

              3. (Assets item 1)

              4. Cash shall comprise all currency including foreign notes and coins.

              5. Only those balances which may be withdrawn without notice and which are deposited with central...

              6. This div-1 has a number but no title; creating a P1group with an empty Title

              7. 2. Treasury bills and other eligible bills: Treasury bills and similar securities

              8. (Assets item 2(a))

              9. Treasury bills and similar securities shall comprise treasury bills and similar debt instruments issued by...

              10. This div-1 has a number but no title; creating a P1group with an empty Title

              11. 3. Treasury bills and other eligible bills: Other eligible bills

              12. (Assets item 2(b))

              13. Other eligible bills shall comprise all bills purchased to the extent that they are eligible,...

              14. This div-1 has a number but no title; creating a P1group with an empty Title

              15. 4. Loans and advances to banks

              16. (Assets item 3)

              17. Loans and advances to banks shall comprise all loans and advances to domestic or foreign...

              18. This div-1 has a number but no title; creating a P1group with an empty Title

              19. 5. Loans and advances to customers

              20. (Assets item 4)

              21. Loans and advances to customers shall comprise all types of assets in the form of...

              22. This div-1 has a number but no title; creating a P1group with an empty Title

              23. 6. Debt securities [and other fixed income securities]

              24. (Assets item 5)

              25. This item shall comprise transferable debt securities and any other transferable fixed income securities issued...

              26. Where a company holds its own debt securities these shall not be included under this...

              27. Securities bearing interest rates that vary in accordance with specific factors, for example the interest...

              28. This div-1 has a number but no title; creating a P1group with an empty Title

              29. 7. Intangible fixed assets

              30. (Assets item 9)

              31. This item shall comprise: development costs; concessions, patents, licences, trade marks and similar rights and...

              32. Amounts representing goodwill shall only be included to the extent that the goodwill was acquired...

              33. There shall be disclosed, in a note to the accounts, the amount of any goodwill...

              34. This div-1 has a number but no title; creating a P1group with an empty Title

              35. 8. Tangible fixed assets

              36. (Assets item 10)

              37. This item shall comprise: —land and buildings; —plant and machinery; —fixtures and fittings, tools and...

              38. This div-1 has a number but no title; creating a P1group with an empty Title

              39. 9. Called up capital not paid

              40. (Assets items 11 and 14)

              41. The two positions shown for this item are alternatives.

              42. This div-1 has a number but no title; creating a P1group with an empty Title

              43. 10. Own shares

              44. (Assets item 12)

              45. The nominal value of the shares held shall be shown separately under this item.

              46. This div-1 has a number but no title; creating a P1group with an empty Title

              47. 11. Deposits by banks

              48. (Liabilities item 1)

              49. Deposits by banks shall comprise all amounts arising out of banking transactions owed to other...

              50. This div-1 has a number but no title; creating a P1group with an empty Title

              51. 12. Customer accounts

              52. (Liabilities item 2)

              53. This item shall comprise all amounts owed to creditors that are not credit institutions. However...

              54. This div-1 has a number but no title; creating a P1group with an empty Title

              55. 13. Debt securities in issue

              56. (Liabilities item 3)

              57. This item shall include both debt securities and debts for which transferable certificates have been...

              58. This div-1 has a number but no title; creating a P1group with an empty Title

              59. 14. Subordinated liabilities

              60. (Liabilities item 7)

              61. This item shall comprise all liabilities in respect of which there is a contractual obligation...

              62. This div-1 has a number but no title; creating a P1group with an empty Title

              63. 15. Called up share capital

              64. (Liabilities item 8)

              65. The amount of allotted share capital and the amount of called up share capital which...

              66. This div-1 has a number but no title; creating a P1group with an empty Title

              67. 16. Contingent liabilities

              68. (Memorandum item 1)

              69. This item shall include all transactions whereby the company has underwritten the obligations of a...

              70. Liabilities arising out of the endorsement of rediscounted bills shall be included in this item....

              71. This div-1 has a number but no title; creating a P1group with an empty Title

              72. 17. Contingent liabilities: Guarantees and assets pledged as collateral security

              73. (Memorandum item 1(2))

              74. This item shall include all guarantee obligations incurred and assets pledged as collateral security on...

              75. This div-1 has a number but no title; creating a P1group with an empty Title

              76. 18. Commitments

              77. (Memorandum item 2)

              78. This item shall include every irrevocable commitment which could give rise to a credit risk.

              79. This div-1 has a number but no title; creating a P1group with an empty Title

              80. 19. Commitments: Commitments arising out of sale and option to resell transactions

              81. (Memorandum item 2(1))

              82. This sub-item shall comprise commitments entered into by the company in the context of sale...

              83. This div-1 has a number but no title; creating a P1group with an empty Title

              84. 20. Claims on, and liabilities to, undertakings in which a participating interest is held or group...

              85. (Assets items 2 to 5, Liabilities items 1 to 3 and 7)

              86. The following information must be given either by way of subdivision of the relevant items...

              87. The amount of the following must be shown for each of Assets items 2 to...

           7. Special Rules

              1. Subordinated assets

              2. 11. (1) The amount of any assets that are subordinated must be shown either as a...

              3. Syndicated loans

              4. 12. (1) Where a company is a party to a syndicated loan transaction the company shall...

              5. Sale and repurchase transactions

              6. 13. (1) The following rules apply where a company is a party to a sale and...

              7. Sale and option to resell transactions

              8. 14. (1) The following rules apply where a company is a party to a sale and...

              9. Managed funds

              10. 15. (1) For the purposes of this paragraph “managed funds” are funds which the company administers...

           8. Profit and Loss Account Formats

           9. FORMAT 1

              1. Vertical layout

              2. This div-1 has a number but no title; creating a P1group with an empty Title

              3. 1. Interest receivable (1) (1) Interest receivable and similar income arising from debt securities [and other...

              4. This div-1 has a number but no title; creating a P1group with an empty Title

              5. 2. Interest payable (2)

              6. This div-1 has a number but no title; creating a P1group with an empty Title

              7. 3. Dividend income (a) Income from equity shares [and other variable-yield securities] (b) Income from participating...

              8. This div-1 has a number but no title; creating a P1group with an empty Title

              9. 4. Fees and commissions receivable (3)

              10. This div-1 has a number but no title; creating a P1group with an empty Title

              11. 5. Fees and commissions payable (4)

              12. This div-1 has a number but no title; creating a P1group with an empty Title

              13. 6. Dealing [profits] [losses] (5)

              14. This div-1 has a number but no title; creating a P1group with an empty Title

              15. 7. Other operating income

              16. This div-1 has a number but no title; creating a P1group with an empty Title

              17. 8. Administrative expenses (a) Staff costs (i) Wages and salaries (ii) Social security costs (iii) Other...

              18. This div-1 has a number but no title; creating a P1group with an empty Title

              19. 9. Depreciation and amortisation (6)

              20. This div-1 has a number but no title; creating a P1group with an empty Title

              21. 10. Other operating charges

              22. This div-1 has a number but no title; creating a P1group with an empty Title

              23. 11. Provisions (a) Provisions for bad and doubtful debts (7) (b) Provisions for contingent liabilities and...

              24. This div-1 has a number but no title; creating a P1group with an empty Title

              25. 12. Adjustments to provisions (a) Adjustments to provisions for bad and doubtful debts (9) (b) Adjustments...

              26. This div-1 has a number but no title; creating a P1group with an empty Title

              27. 13. Amounts written off fixed asset investments (11)

              28. This div-1 has a number but no title; creating a P1group with an empty Title

              29. 14. Adjustments to amounts written off fixed asset investments (12)

              30. This div-1 has a number but no title; creating a P1group with an empty Title

              31. 15. [Profit] [loss] on ordinary activities before tax

              32. This div-1 has a number but no title; creating a P1group with an empty Title

              33. 16. Tax on [profit] [loss] on ordinary activities

              34. This div-1 has a number but no title; creating a P1group with an empty Title

              35. 17. [Profit] [loss] on ordinary activities after tax

              36. This div-1 has a number but no title; creating a P1group with an empty Title

              37. 18. Extraordinary income

              38. This div-1 has a number but no title; creating a P1group with an empty Title

              39. 19. Extraordinary charges

              40. This div-1 has a number but no title; creating a P1group with an empty Title

              41. 20. Extraordinary [profit] [loss]

              42. This div-1 has a number but no title; creating a P1group with an empty Title

              43. 21. Tax on extraordinary [profit] [loss]

              44. This div-1 has a number but no title; creating a P1group with an empty Title

              45. 22. Extraordinary [profit] [loss] after tax

              46. This div-1 has a number but no title; creating a P1group with an empty Title

              47. 23. Other taxes not shown under the preceding items

              48. This div-1 has a number but no title; creating a P1group with an empty Title

              49. 24. [Profit] [loss] for the financial year

           10. FORMAT 2

               1. Horizontal layout

               2. This div-1 has a number but no title; creating a P1group with an empty Title

               3. A. Charges (1) Interest payable (2) (2) Fees and commissions payable (4) (3) Dealing losses (5)...

               4. This div-1 has a number but no title; creating a P1group with an empty Title

               5. B. Income (1) Interest receivable (1) (1) Interest receivable and similar income arising from debt securities...

           11. Notes on the profit and loss account formats

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 1. Interest receivable

               3. (Format 1, item 1; Format 2, item B1)

               4. This item shall include all income arising out of banking activities, including: income from assets,...

               5. This div-1 has a number but no title; creating a P1group with an empty Title

               6. 2. Interest payable

               7. (Format 1, item 2; Format 2, item A1)

               8. This item shall include all expenditure arising out of banking activities, including: charges arising out...

               9. This div-1 has a number but no title; creating a P1group with an empty Title

               10. 3. Fees and commissions receivable

               11. (Format 1, item 4; Format 2, item B3)

               12. Fees and commissions receivable shall comprise income in respect of all services supplied by the...

               13. In particular the following fees and commissions receivable must be included (unless required to be...

               14. This div-1 has a number but no title; creating a P1group with an empty Title

               15. 4. Fees and commissions payable

               16. (Format 1, item 5; Format 2, item A2)

               17. Fees and commissions payable shall comprise charges for all services rendered to the company by...

               18. In particular the following fees and commissions payable must be included (unless required to be...

               19. This div-1 has a number but no title; creating a P1group with an empty Title

               20. 5. Dealing [profits] [losses]

               21. (Format 1, item 6; Format 2, items B4 and A3)

               22. This item shall comprise: the net profit or net loss on transactions in securities which...

               23. This div-1 has a number but no title; creating a P1group with an empty Title

               24. 6. Depreciation and amortisation

               25. (Format 1, item 9; Format 2, item A5)

               26. This item shall comprise depreciation and other amounts written off in respect of balance sheet...

               27. This div-1 has a number but no title; creating a P1group with an empty Title

               28. 7. Provisions: Provisions for bad and doubtful debts

               29. (Format 1, item 11(a); Format 2, item A7(a))

               30. Provisions for bad and doubtful debts shall comprise charges for amounts written off and for...

               31. This div-1 has a number but no title; creating a P1group with an empty Title

               32. 8. Provisions: Provisions for contingent liabilities and commitments

               33. (Format 1, item 11(b); Format 2, item A7(b))

               34. This item shall comprise charges for provisions for contingent liabilities and commitments of a type...

               35. This div-1 has a number but no title; creating a P1group with an empty Title

               36. 9. Adjustments to provisions: Adjustments to provisions for bad and doubtful debts

               37. (Format 1, item 12(a); Format 2, item B5(a))

               38. This item shall include credits from the recovery of loans that have been written off,...

               39. This div-1 has a number but no title; creating a P1group with an empty Title

               40. 10. Adjustments to provisions: Adjustments to provisions for contingent liabilities and commitments

               41. (Format 1, item 12(b); Format 2, item B5(b))

               42. This item comprises credits from the reduction of provisions previously made with respect to contingent...

               43. This div-1 has a number but no title; creating a P1group with an empty Title

               44. 11. Amounts written off fixed asset investments

               45. (Format 1, item 13; Format 2, item A8)

               46. Amounts written off fixed asset investments shall comprise amounts written off in respect of assets...

               47. This div-1 has a number but no title; creating a P1group with an empty Title

               48. 12. Adjustments to amounts written off fixed asset investments

               49. (Format 1, item 14; Format 2, item B6)

               50. Adjustments to amounts written off fixed asset investments shall include amounts written back following earlier...

           12. CHAPTER II ACCOUNTING PRINCIPLES AND RULES

           13. SECTION A ACCOUNTING PRINCIPLES

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 16. Subject to paragraph 22, the amounts to be included in respect of all items shown...

           14. Accounting principles

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 17. The company shall be presumed to be carrying on business as a going concern.

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 18. Accounting policies shall be applied consistently within the same accounts and from one financial year...

               5. This div-1 has a number but no title; creating a P1group with an empty Title

               6. 19. The amount of any item shall be determined on a prudent basis, and in particular:...

               7. This div-1 has a number but no title; creating a P1group with an empty Title

               8. 20. All income and charges relating to the financial year to which the accounts relate shall...

               9. This div-1 has a number but no title; creating a P1group with an empty Title

               10. 21. In determining the aggregate amount of any item the amount of each individual asset or...

           15. Departure from the accounting principles

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 22. If it appears to the directors of a company that there are special reasons for...

           16. SECTION B VALUATION RULES

           17. HISTORICAL COST ACCOUNTING RULES

           18. Preliminary

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 23. Subject to paragraphs 39 to 44F , the amounts to be included in respect of...

           19. Fixed assets

               1. General rules

               2. 24. Subject to any provision for depreciation or diminution in value made in accordance with paragraph...

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 25. In the case of any fixed asset which has a limited useful economic life, the...

               5. This div-1 has a number but no title; creating a P1group with an empty Title

               6. 26. (1) Where a fixed asset investment of a description falling to be included under Assets...

               7. Development costs

               8. 27. (1) Notwithstanding that amounts representing “development costs” may be included under Assets item 9 in...

               9. Goodwill

               10. 28. (1) The application of paragraphs 24 to 26 in relation to goodwill (in any case...

               11. Intangible and tangible fixed assets

               12. 29. Assets included in Assets items 9 (Intangible fixed assets) and 10 (Tangible fixed assets) in...

               13. Other fixed assets

               14. 30. Other assets falling to be included in the balance sheet shall be valued as fixed...

               15. Financial fixed assets

               16. 31. (1) Debt securities, including fixed income securities, held as financial fixed assets shall be included...

           20. Current Assets

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 32. The amount to be included in respect of loans and advances, debt or other fixed...

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 33. (1) If the net realisable value of any asset referred to in paragraph 32 is...

               5. This div-1 has a number but no title; creating a P1group with an empty Title

               6. 34. (1) Subject to paragraph 33, the amount to be included in the balance sheet in...

           21. Miscellaneous and supplementary provisions

               1. Excess of money owed over value received as an asset item

               2. 35. (1) Where the amount repayable on any debt owed by a company is greater than...

               3. Determination of cost

               4. 36. (1) The cost of an asset that has been acquired by the company shall be...

               5. This div-1 has a number but no title; creating a P1group with an empty Title

               6. 37. (1) Subject to the qualification mentioned below, the cost of any assets which are fungible...

               7. Substitution of original amount where price or cost unknown

               8. 38. Where there is no record of the purchase price of any asset acquired by a...

           22. ALTERNATIVE ACCOUNTING RULES

           23. Preliminary

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 39. (1) The rules set out in paragraphs 24 to 38 are referred to below in...

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 40. Subject to paragraphs 42 to 44, the amounts to be included in respect of assets...

           24. Alternative accounting rules

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 41. (1) Intangible fixed assets, other than goodwill, may be included at their current cost. (2)...

           25. Application of the depreciation rules

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 42. (1) Where the value of any asset of a company is determined in accordance with...

           26. Additional information to be provided in case of departure from historical cost accounting rules

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 43. (1) This paragraph applies where the amounts to be included in respect of assets covered...

           27. Revaluation reserve

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 44. (1) With respect to any determination of the value of an asset of a company...

           28. FAIR VALUE ACCOUNTING

           29. Inclusion of financial instruments at fair value

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 44A. (1) Subject to sub-paragraphs (2) to (4), financial instruments (including derivatives) may be included at...

           30. Determination of fair value

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 44B. (1) The fair value of a financial instrument is determined in accordance with this paragraph....

           31. Inclusion of hedged items at fair value

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 44C. A company may include any assets and liabilities that qualify as hedged items under a...

           32. Other assets that may be included at fair value

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 44D. (1) This paragraph applies to— (a) investment property, and (b) living animals and plants, that,...

           33. Accounting for changes in value

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 44E. (1) This paragraph applies where a financial instrument is valued in accordance with paragraph 44A...

           34. The fair value reserve

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 44F. (1) The fair value reserve must be adjusted to the extent that the amounts shown...

           35. ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 45. (1) Subject to the following sub-paragraphs, amounts to be included in respect of assets and...

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 46. (1) Subject to sub-paragraph (2), any difference between the amount to be included in respect...

           36. CHAPTER III NOTES TO THE ACCOUNTS

           37. Preliminary

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 47. (1) Any information required in the case of a company by the following provisions of...

           38. General

               1. Disclosure of accounting policies

               2. 48. The accounting policies adopted by the company in determining the amounts to be included in...

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 49. It shall be stated whether the accounts have been prepared in accordance with applicable accounting...

               5. Sums denominated in foreign currencies

               6. 50. Where any sums originally denominated in foreign currencies have been brought into account under any...

               7. Reserves and dividends

               8. 50A. There must be stated— (a) any amount set aside or proposed to be set aside...

           39. Information supplementing the balance sheet

               1. Share capital and debentures

               2. 51. (1) The following information shall be given with respect to the company's share capital: (a)...

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 52. If the company has allotted any shares during the financial year, the following information shall...

               5. This div-1 has a number but no title; creating a P1group with an empty Title

               6. 53. (1) With respect to any contingent right to the allotment of shares in the company...

               7. This div-1 has a number but no title; creating a P1group with an empty Title

               8. 54. (1) If the company has issued any debentures during the financial year to which the...

               9. Fixed assets

               10. 55. (1) In respect of any fixed assets of the company included in any assets item...

               11. This div-1 has a number but no title; creating a P1group with an empty Title

               12. 56. Where any fixed assets of the company (other than listed investments) are included under any...

               13. This div-1 has a number but no title; creating a P1group with an empty Title

               14. 57. In relation to any amount which is included under Assets item 10 in the balance...

               15. This div-1 has a number but no title; creating a P1group with an empty Title

               16. 58. There shall be disclosed separately the amount of: (a) any participating interests; and (b) any...

               17. Information about fair value of assets and liabilities

               18. 58A. (1) This paragraph applies where financial instruments have been valued in accordance with paragraph 44A...

               19. This div-1 has a number but no title; creating a P1group with an empty Title

               20. 58B. Where the company has derivatives that it has not included at fair value, there must...

               21. This div-1 has a number but no title; creating a P1group with an empty Title

               22. 58C. (1) Sub‐paragraph (2) applies if— (a) the company has financial fixed assets that could be...

               23. Information where investment property and living animals and plants included at fair value

               24. 58D. (1) This paragraph applies where the amounts to be included in a company's accounts in...

               25. Reserves and provisions

               26. 59. (1) Where any amount is transferred: (a) to or from any reserves; (b) to any...

               27. Provision for taxation

               28. 60. The amount of any provision for deferred taxation shall be stated separately from the amount...

               29. Maturity analysis

               30. 61. (1) A company shall disclose separately for each of Assets items 3(b) and 4 and...

               31. Debt and other fixed income securities

               32. 62. A company shall disclose the amount of debt and fixed income securities included in Assets...

               33. Subordinated liabilities

               34. 63. (1) The following information must be disclosed in relation to any borrowing included in Liabilities...

               35. Fixed cumulative dividends

               36. 64. If any fixed cumulative dividends on the company's shares are in arrear, there shall be...

               37. Details of assets charged

               38. 65. (1) There shall be disclosed, in relation to each liabilities and memorandum item of the...

               39. Guarantees and other financial commitments

               40. 66. (1) There shall be stated, where practicable: (a) the aggregate amount or estimated amount of...

               41. Memorandum items: Group undertakings

               42. 67. (1) With respect to contingent liabilities required to be included under Memorandum item 1 in...

               43. Transferable securities

               44. 68. (1) There shall be disclosed for each of Assets items 5 to 8 in the...

               45. Leasing transactions

               46. 69. The aggregate amount of all property (other than land) leased by the company to other...

               47. Assets and liabilities denominated in a currency other than sterling (or the currency in which the accounts are drawn up)

               48. 70. (1) The aggregate amount, in sterling (or the currency in which the accounts are drawn...

               49. Sundry assets and liabilities

               50. 71. Where any amount shown under either of the following items is material, particulars shall be...

               51. Unmatured forward transactions

               52. 72. (1) The following shall be disclosed with respect to unmatured forward transactions outstanding at the...

               53. Miscellaneous matters

               54. 73. (1) Particulars shall be given of any case where the cost of any asset is...

           40. Information supplementing the profit and loss account

               1. Para. 74 rep. by SR 1997/314

               2. Particulars of tax

               3. 75. Sub-para. (1) rep. by SR 1997/314 (2) Particulars shall be given of any special circumstances...

               4. Particulars of income

               5. 76. (1) A company shall disclose, with respect to income included in the following items in...

               6. Para. 77 rep. by SR 2004/496

               7. Management and agency services

               8. 78. A company providing any management and agency services to customers shall disclose that fact, if...

               9. Subordinated liabilities

               10. 79. Any amounts charged to the profit and loss account representing charges incurred during the year...

               11. Sundry income and charges

               12. 80. Where any amount to be included in any of the following items is material, particulars...

               13. Miscellaneous matters

               14. 81. (1) Where any amount relating to any preceding financial year is included in any item...

           41. CHAPTER IV INTERPRETATION OF PART I

               1. General

               2. 82. The following definitions apply for the purposes of this Part and its interpretation: “banking activities”...

               3. Financial instruments

               4. 82A. For the purposes of this Part, references to “derivatives” include commodity‐based contracts that give either...

               5. This div-1 has a number but no title; creating a P1group with an empty Title

               6. 82B. (1) The expressions listed in sub‐paragraph (2) have the same meaning in paragraphs 44A to...

               7. Loans

               8. 83. For the purposes of this Part a loan or advance (including a liability comprising a...

               9. Materiality

               10. 84. For the purposes of this Part amounts which in the particular context of any provision...

               11. Provisions

               12. 85. For the purposes of this Part and its interpretation: (a) references in this Part to...

               13. Staff costs

               14. 86. For the purposes of this Part and its interpretation: (a) “social security costs” means any...

        2. PART II CONSOLIDATED ACCOUNTS

           1. Para. 1 rep. by SR 2004/496

           2. General application of provisions applicable to individual accounts

           3. 2. (1) In paragraph 1 of Schedule 4A (application to group accounts of provisions applicable to...

           4. Minority interests and associated undertakings

           5. 3. (1) The provisions of this paragraph shall have effect so as to adapt paragraphs 17...

           6. This div-1 has a number but no title; creating a P1group with an empty Title

           7. 4. Paragraphs 18 and 22(1) of Schedule 4A shall apply as if, in substitution for the...

           8. Foreign currency translation

           9. 5. Any difference between: (a) the amount included in the consolidated accounts for the previous financial...

           10. This div-1 has a number but no title; creating a P1group with an empty Title

           11. 6. Any income and expenditure of undertakings included in the consolidation and associated undertakings in a...

           12. Information as to undertaking in which shares held as a result of financial assistance operation

           13. 7. (1) The following provisions apply where the parent company of a banking group has a...

        3. PART III ADDITIONAL DISCLOSURE: RELATED UNDERTAKINGS

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 1. (1) Where accounts are prepared in accordance with the special provisions of this Schedule relating...

        4. PART IV ADDITIONAL DISCLOSURE: EMOLUMENTS AND OTHER BENEFITS OF DIRECTORS AND OTHERS

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 1. The provisions of this Part have effect with respect to the application of Schedule 6...

           3. Loans, quasi-loans and other dealings

           4. 2. Part II of Schedule 6 (loans, quasi-loans and other dealings) does not apply for the...

           5. Other transactions, arrangements and agreements

           6. 3. (1) Part III of Schedule 6 (other transactions, arrangements and agreements) applies for the purposes...

    15. SCHEDULE 9A

        Form and Content of Accounts of Insurance Companies and Groups

        1. PART 1 INDIVIDUAL ACCOUNTS

           1. CHAPTER 1 GENERAL RULES AND FORMATS

           2. SECTION A

           3. GENERAL RULES

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 1. (1) Subject to the following provisions of this Part— (a) every balance sheet of a...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 2. (1) Any item required in accordance with paragraph 1 to be shown in a company's...

              5. This div-1 has a number but no title; creating a P1group with an empty Title

              6. 3. (1) In respect of every item shown in the balance sheet or profit and loss...

              7. This div-1 has a number but no title; creating a P1group with an empty Title

              8. 4. Subject to the provisions of this Schedule, amounts in respect of items representing assets or...

              9. Para. 5 rep. by SR 2004/496

              10. This div-1 has a number but no title; creating a P1group with an empty Title

              11. 6. (1) The provisions of this Schedule which relate to long term business shall apply, with...

              12. This div-1 has a number but no title; creating a P1group with an empty Title

              13. 6A. The directors of a company must, in determining how amounts are presented within items in...

           4. SECTION B THE REQUIRED FORMATS FOR ACCOUNTS

           5. Preliminary

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 7. (1) References in the Part to the balance sheet format or profit and loss account...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 8. A number in brackets following any item in either of the formats set out below...

              5. This div-1 has a number but no title; creating a P1group with an empty Title

              6. 9. (1) In the profit and loss account format set out below— (a) the heading “Technical...

           6. Balance Sheet Format

              1. ASSETS

              2. This div-1 has a number but no title; creating a P1group with an empty Title

              3. A. Called up share capital not paid (1)

              4. This div-1 has a number but no title; creating a P1group with an empty Title

              5. B. Intangible assets (1) Development costs (2) Concessions, patents, licences, trade marks and similar rights and...

              6. This div-1 has a number but no title; creating a P1group with an empty Title

              7. C. Investments

              8. This div-1 has a number but no title; creating a P1group with an empty Title

              9. I. Land and buildings (4)

              10. This div-1 has a number but no title; creating a P1group with an empty Title

              11. II. Investments in group undertakings and participating interests (1) Shares in group undertakings (2) Debt securities...

              12. This div-1 has a number but no title; creating a P1group with an empty Title

              13. III. Other financial investments (1) Shares and other variable-yield securities and units in unit trusts (2)...

              14. This div-1 has a number but no title; creating a P1group with an empty Title

              15. IV. Deposits with ceding undertakings (10)

              16. This div-1 has a number but no title; creating a P1group with an empty Title

              17. D. Assets held to cover linked liabilities (11)

              18. This div-1 has a number but no title; creating a P1group with an empty Title

              19. Da. Reinsurers' share of technical provisions (12) (1) Provision for unearned premiums (2) Long-term business provision...

              20. This div-1 has a number but no title; creating a P1group with an empty Title

              21. E. Debtors (13)

              22. This div-1 has a number but no title; creating a P1group with an empty Title

              23. I. Debtors arising out of direct insurance operations (1) Policy holders (2) Intermediaries

              24. This div-1 has a number but no title; creating a P1group with an empty Title

              25. II. Debtors arising out of reinsurance operations

              26. This div-1 has a number but no title; creating a P1group with an empty Title

              27. III. Other debtors

              28. This div-1 has a number but no title; creating a P1group with an empty Title

              29. IV. Called up share capital not paid (1)

              30. This div-1 has a number but no title; creating a P1group with an empty Title

              31. F. Other assets

              32. This div-1 has a number but no title; creating a P1group with an empty Title

              33. I. Tangible assets (1) Plant and machinery (2) Fixtures, fittings, tools and equipment (3) Payments on...

              34. This div-1 has a number but no title; creating a P1group with an empty Title

              35. II. Stocks (1) Raw materials and consumables (2) Work in progress (3) Finished goods and goods...

              36. This div-1 has a number but no title; creating a P1group with an empty Title

              37. III. Cash at bank and in hand

              38. This div-1 has a number but no title; creating a P1group with an empty Title

              39. IV. Own shares (14)

              40. This div-1 has a number but no title; creating a P1group with an empty Title

              41. V. Other (15)

              42. This div-1 has a number but no title; creating a P1group with an empty Title

              43. G. Repayments and accrued income

              44. This div-1 has a number but no title; creating a P1group with an empty Title

              45. I. Accrued interest and rent (16)

              46. This div-1 has a number but no title; creating a P1group with an empty Title

              47. II. Deferred acquisition costs (17)

              48. This div-1 has a number but no title; creating a P1group with an empty Title

              49. III. Other repayments and accrued income

              50. LIABILITIES

              51. This div-1 has a number but no title; creating a P1group with an empty Title

              52. A. Capital and reserves

              53. This div-1 has a number but no title; creating a P1group with an empty Title

              54. I. Called up share capital or equivalent funds

              55. This div-1 has a number but no title; creating a P1group with an empty Title

              56. II. Share premium account

              57. This div-1 has a number but no title; creating a P1group with an empty Title

              58. III. Revaluation reserve

              59. This div-1 has a number but no title; creating a P1group with an empty Title

              60. IV. Reserves (1) Capital redemption reserves (2) Reserve for own shares (3) Reserves provided for by...

              61. This div-1 has a number but no title; creating a P1group with an empty Title

              62. V. Profit and loss account

              63. This div-1 has a number but no title; creating a P1group with an empty Title

              64. B. Subordinated liabilities (18)

              65. This div-1 has a number but no title; creating a P1group with an empty Title

              66. Ba. Fund for future appropriations (19)

              67. This div-1 has a number but no title; creating a P1group with an empty Title

              68. C. Technical provisions (1) Provision for unearned premiums (20) (a) gross amount (b) reinsurance amount (12)...

              69. This div-1 has a number but no title; creating a P1group with an empty Title

              70. D. Technical provisions for linked liabilities (26) (a) gross amount (b) reinsurance amount (12)

              71. This div-1 has a number but no title; creating a P1group with an empty Title

              72. E. Provisions for other risks (1) Provisions for pensions and similar obligations (2) Provisions for taxation...

              73. This div-1 has a number but no title; creating a P1group with an empty Title

              74. F. Deposits received from reinsurers (27)

              75. This div-1 has a number but no title; creating a P1group with an empty Title

              76. G. Creditors (28)

              77. This div-1 has a number but no title; creating a P1group with an empty Title

              78. I. Creditors arising out of direct insurance operations

              79. This div-1 has a number but no title; creating a P1group with an empty Title

              80. II. Creditors arising out of reinsurance operations

              81. This div-1 has a number but no title; creating a P1group with an empty Title

              82. III. Debenture loans (29)

              83. This div-1 has a number but no title; creating a P1group with an empty Title

              84. IV. Amounts owed to credit institutions

              85. This div-1 has a number but no title; creating a P1group with an empty Title

              86. V. Other creditors including taxation and social security

              87. This div-1 has a number but no title; creating a P1group with an empty Title

              88. H. Accruals and deferred income

           7. Notes on the Balance Sheet Format

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 1. Called up share capital not paid

              3. (Assets items A and E.IV)

              4. This item may be shown in either of the positions given in the format.

              5. This div-1 has a number but no title; creating a P1group with an empty Title

              6. 2. Concessions, patents, licences, trade marks and similar rights and assets

              7. (Assets item B.2)

              8. Amounts in respect of assets shall only be included in a company's balance sheet under...

              9. This div-1 has a number but no title; creating a P1group with an empty Title

              10. 3. Goodwill

              11. (Assets item B.3)

              12. Amounts representing goodwill shall only be included to the extent that the goodwill was acquired...

              13. This div-1 has a number but no title; creating a P1group with an empty Title

              14. 4. Land and Buildings

              15. (Assets item C.1)

              16. The amount of any land and buildings occupied by the company for its own activities...

              17. This div-1 has a number but no title; creating a P1group with an empty Title

              18. 5. Debt securities and other fixed income securities

              19. (Assets item C.III.2)

              20. This item shall comprise transferable debt securities and any other transferable fixed income securities issued...

              21. Securities bearing interest rates that vary in accordance with specific factors, for example the interest...

              22. This div-1 has a number but no title; creating a P1group with an empty Title

              23. 6. Participation in investment pools

              24. (Assets item C.III.3)

              25. This item shall comprise shares held by the company in joint investments constituted by several...

              26. This div-1 has a number but no title; creating a P1group with an empty Title

              27. 7. Loans secured by mortgages and other loans

              28. (Assets items C.III.4 and C.III.5)

              29. Loans to policy holders for which the policy is the main security shall be included...

              30. This div-1 has a number but no title; creating a P1group with an empty Title

              31. 8. Deposits with credit institutions

              32. (Assets item C.III.6)

              33. This item shall comprise sums the withdrawal of which is subject to a time restriction....

              34. This div-1 has a number but no title; creating a P1group with an empty Title

              35. 9. Other

              36. (Assets item C.III.7)

              37. This item shall comprise those investments which are not covered by Assets items C.III.1 to...

              38. This div-1 has a number but no title; creating a P1group with an empty Title

              39. 10. Deposits with ceding undertakings

              40. (Assets item C.IV)

              41. Where the company accepts reinsurance this item shall comprise amounts, owned by the ceding undertakings...

              42. These amounts may not be combined with other amounts owed by the ceding insurer to...

              43. Securities deposited with ceding undertakings or third parties which remain the property of the company...

              44. This div-1 has a number but no title; creating a P1group with an empty Title

              45. 11. Assets held to cover linked liabilities

              46. (Assets item D)

              47. In respect of long-term business, this item shall comprise investments made pursuant to long-term policies...

              48. This item shall also comprise investments which are held on behalf of the members of...

              49. This div-1 has a number but no title; creating a P1group with an empty Title

              50. 12. Reinsurance amounts

              51. (Assets item Da: Liabilities items C.1(b), 2(b), 3(b), 4(b) and 6(b) and D(b))

              52. The reinsurance amounts may be shown either under Assets item Da or under Liabilities items...

              53. The reinsurance amounts shall comprise the actual or estimated amounts which, under the contractual reinsurance...

              54. As regards the provision for unearned premiums, the reinsurance amounts shall be calculated according to...

              55. This div-1 has a number but no title; creating a P1group with an empty Title

              56. 13. Debtors

              57. (Assets item E)

              58. Amounts owned by group undertakings and undertakings in which the company has a participating interest...

              59. This div-1 has a number but no title; creating a P1group with an empty Title

              60. 14. Own shares

              61. (Assets item F.IV)

              62. The nominal value of the shares shall be shown separately under this item.

              63. This div-1 has a number but no title; creating a P1group with an empty Title

              64. 15. Other

              65. (Assets item F.V)

              66. This item shall comprise those assets which are not covered by Assets F.I to IV....

              67. This div-1 has a number but no title; creating a P1group with an empty Title

              68. 16. Accrued interest and rent

              69. (Assets item G.I)

              70. This item shall comprise those items that represent interest and rent that have been earned...

              71. This div-1 has a number but no title; creating a P1group with an empty Title

              72. 17. Deferred acquisition costs

              73. (Assets item G.II)

              74. This item shall comprise the costs of acquiring insurance policies which are incurred during a...

              75. Deferred acquisition costs arising in general business shall be distinguished from those arising in long...

              76. In the case of general business, the amount of any deferred acquisition costs shall be...

              77. There shall be disclosed in the notes to the accounts— how the deferral of acquisition...

              78. This div-1 has a number but no title; creating a P1group with an empty Title

              79. 18. Subordinated liabilities

              80. (Liabilities item B)

              81. This item shall comprise all liabilities in respect of which there is a contractual obligation...

              82. This div-1 has a number but no title; creating a P1group with an empty Title

              83. 19. Fund for future appropriations

              84. (Liabilities item Ba)

              85. This item shall comprise all funds the allocation of which either to policy holders or...

              86. Transfers to and from this item shall be shown in item II.12a in the profit...

              87. This div-1 has a number but no title; creating a P1group with an empty Title

              88. 20. Provision for unearned premiums

              89. (Liabilities item C.1)

              90. In the case of long-term business the provision for unearned premiums may be included in...

              91. The provision for unearned premiums shall comprise the amount representing that part of gross premiums...

              92. This div-1 has a number but no title; creating a P1group with an empty Title

              93. 21. Long term business provision

              94. (Liabilities item C.2)

              95. This items shall comprise the actuarially estimated value of the company's liabilities (excluding technical provisions...

              96. This item shall also comprise claims incurred but not reported, plus the estimated costs of...

              97. This div-1 has a number but no title; creating a P1group with an empty Title

              98. 22. Claims outstanding

              99. (Liabilities item C.3)

              100. This item shall comprise the total estimated ultimate cost to the company of settling all...

              101. This div-1 has a number but no title; creating a P1group with an empty Title

              102. 23. Provision for bonuses and rebates

              103. (Liabilities item C.4)

              104. This item shall comprise amounts intended for policy holders or contract beneficiaries by way of...

              105. This div-1 has a number but no title; creating a P1group with an empty Title

              106. 24. Equalisation provision

              107. (Liabilities item C.5)

              108. This item shall comprise the amount of any equalisation reserve maintained in respect of general...

              109. This item shall also comprise any amounts which, in accordance with Council Directive 87/343/EEC ,...

              110. A company which otherwise constitutes reserves to equalise fluctuations in loss ratios in future years...

              111. This div-1 has a number but no title; creating a P1group with an empty Title

              112. 25. Other technical provisions

              113. (Liabilities item C.6)

              114. This item shall comprise, inter alia, the provision for unexpired risks as defined in paragraph...

              115. This div-1 has a number but no title; creating a P1group with an empty Title

              116. 26. Technical provisions for linked liabilities

              117. (Liabilities item D)

              118. This item shall comprise technical provisions constituted to cover liabilities relating to investment in the...

              119. Any additional technical provisions constituted to cover death risks, operating expenses or other risks (such...

              120. This item shall also comprise technical provisions representing the obligations of a tontine's organiser in...

              121. This div-1 has a number but no title; creating a P1group with an empty Title

              122. 27. Deposits received from reinsurers

              123. (Liabilities item F)

              124. Where the company cedes reinsurance, this item shall comprise amounts deposited by or withheld from...

              125. Where the company cedes reinsurance and has received as a deposit securities which have been...

              126. This div-1 has a number but no title; creating a P1group with an empty Title

              127. 28. Creditors

              128. (Liabilities item G)

              129. Amounts owed to group undertakings and undertakings in which the company has a participating interest...

              130. This div-1 has a number but no title; creating a P1group with an empty Title

              131. 29. Debenture loans

              132. (Liabilities item G.III)

              133. The amount of any convertible loans shall be shown separately.

           8. Special Rules for Balance Sheet Format

              1. Additional items

              2. 10. (1) Every balance sheet of a company which carries on long term business shall show...

              3. Managed funds

              4. 11. (1) For the purposes of this paragraph “managed funds” are funds of a group pension...

              5. Deferred acquisition costs

              6. 12. The costs of acquiring insurance policies which are incurred during a financial year but which...

           9. Profit and loss account format

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. I. Technical account—General business (1) Earned premiums, net of reinsurance (a) gross premiums written (1) (b)...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. II. Technical account—long term business (1) Earned premiums, net of reinsurance (a) gross premiums written (1)...

              5. This div-1 has a number but no title; creating a P1group with an empty Title

              6. III. Non-technical account (1) Balance on the general business technical account—(item I.10) (2) Balance on the...

           10. Notes on the profit and loss account format

           11. CHAPTER II ACCOUNTING PRINCIPALS AND RULES

           12. SECTION A ACCOUNTING PRINICPLES

           13. Preliminary

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 13. Subject to paragraph 19, the amounts to be included in respect of all items shown...

           14. Accounting principles

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 14. The company shall be presumed to be carrying on business as a going concern.

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 15. Accounting policies shall be applied consistently within the same accounts and from one financial year...

               5. This div-1 has a number but no title; creating a P1group with an empty Title

               6. 16. The amount of any item shall be determined on a prudent basis, and in particular—...

               7. This div-1 has a number but no title; creating a P1group with an empty Title

               8. 17. All income and charges relating to the financial year to which the accounts relate shall...

               9. This div-1 has a number but no title; creating a P1group with an empty Title

               10. 18. In determining the aggregate amount of any item the amount of each individual asset or...

           15. Departure from accounting principles

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 19. If it appears to the directors of a company that there are special reasons for...

           16. Valuation

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 19A. (1) The amounts to be included in respect of assets of any description mentioned in...

           17. SECTION B CURRENT VALUE ACCOUNTING RULES

           18. Para. 20 rep. by SR 2004/496 Para. 21 rep. by SR 1997/314

               1. Para. 20 rep. by SR 2004/496

               2. Para. 21 rep. by SR 1997/314

           19. Valuation of assets: general

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 22. (1) Subject to paragraph 24, investments falling to be included under Assets item C (investments)...

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 23. (1) Intangible assets other than goodwill may be shown at their current cost. (2) Assets...

           20. Alternative valuation of fixed-income securities

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 24. (1) This paragraph applies to debt securities and other fixed-income securities shown as assets under...

           21. Meaning of “ current value ”

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 25. (1) Subject to sub-paragraph (5), in the case of investments other than land and buildings,...

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 26. (1) In the case of land and buildings, current value shall mean the market value...

           22. Application of the depreciation rules

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 27. (1) Where (a) the value of any asset of a company is determined in accordance...

           23. Additional information to be provided

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 28. (1) This paragraph applies where the amounts to be included in respect of assets covered...

           24. Revaluation reserve

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 29. (1) Subject to sub-paragraph (7), with respect to any determination of the value of an...

           25. SECTION BA VALUATION AT FAIR VALUE

           26. Inclusion of financial instruments at fair value

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 29A. (1) Subject to sub-paragraphs (2) to (4), financial instruments (including derivatives) may be included at...

           27. Determination of fair value

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 29B. (1) The fair value of a financial instrument is determined in accordance with this paragraph....

           28. Inclusion of hedged items at fair value

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 29C. A company may include any assets and liabilities that qualify as hedged items under a...

           29. Other assets that may be included at fair value

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 29D. (1) This paragraph applies to— (a) investment property, and (b) living animals and plants, that,...

           30. Accounting for changes in value

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 29E. (1) This paragraph applies where a financial instrument is valued in accordance with paragraph 29A...

           31. The fair value reserve

               1. This div-1 has a number but no title; creating a P1group with an empty Title

               2. 29F. (1) The fair value reserve must be adjusted to the extent that the amounts shown...

           32. SECTION C HISTORICAL COST ACCOUNTING RULES

           33. Para. 30 rep. by SR 2004/496

               1. Para. 30 rep. by SR 2004/496

           34. Valuation of assets

               1. General rules

               2. 31. Subject to any provision for depreciation or diminution in value made in accordance with paragraph...

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 32. In the case of any asset included under Assets item B (intangible assets), C.I. (land...

               5. This div-1 has a number but no title; creating a P1group with an empty Title

               6. 33. (1) This paragraph applies to any asset included under Assets item B (intangible assets), C...

               7. This div-1 has a number but no title; creating a P1group with an empty Title

               8. 34. (1) This paragraph applies to assets included under Assets items E.I, II and III (debtors)...

               9. Development costs

               10. 35. (1) Notwithstanding that amounts representing “development costs” may be included under Assets item B (intangible...

               11. Goodwill

               12. 36. (1) The application of paragraphs 31 to 33 in relation to goodwill (in any case...

           35. Miscellaneous and supplemental

               1. Excess of money owed over value received as an asset item

               2. 37. (1) Where the amount repayable on any debt owned by a company is greater than...

               3. Assets included at a fixed amount

               4. 38. (1) Subject to sub-paragraph (2), assets which fall to be included under Assets item F.I...

               5. Determination of cost

               6. 39. (1) The cost of an asset that has been acquired by the company shall be...

               7. This div-1 has a number but no title; creating a P1group with an empty Title

               8. 40. (1) Subject to the qualification mentioned below, the cost of any assets which are fungible...

               9. Substitution of original amount where price or cost unknown

               10. 41. Where there is no record of the purchase price of any asset acquired by a...

           36. SECTION D RULES FOR DETERMINING PROVISIONS

               1. Preliminary

               2. 42. Provisions which are to be shown in a company's accounts shall be determined in accordance...

               3. Technical provisions

               4. 43. The amount of technical provisions must at all times be sufficient to cover any liabilities...

               5. Provision for unearned premiums

               6. 44. (1) The provision for unearned premiums shall in principle be computed separately for each insurance...

               7. Provision for unexpired risks

               8. 45. The provision for unexpired risks (as defined in paragraph 81) shall be computed on the...

               9. Long term business provision

               10. 46. (1) The long-term business provision shall in principal be computed separately for each long-term contract,...

           37. Provisions for claims outstanding

               1. General business

               2. 47. (1) A provision shall in principle be computed separately for each claim on the basis...

               3. This div-1 has a number but no title; creating a P1group with an empty Title

               4. 48. (1) Explicit discounting or deductions to take account of investment income is permitted, subject to...

               5. Long term business

               6. 49. The amount of the provision for claims shall be equal to the sums due to...

               7. Equalisation reserves

               8. 50. The amount of any equalisation reserve maintained in respect of general business, in accordance with...

               9. Accounting on a non-annual basis

               10. 51. (1) Either of the methods described in paragraphs 52 and 53 may be applied where,...

               11. This div-1 has a number but no title; creating a P1group with an empty Title

               12. 52. (1) The excess of the premiums written over the claims and expenses paid in respect...

               13. This div-1 has a number but no title; creating a P1group with an empty Title

               14. 53. (1) The figures shown in the technical account or in certain items within it shall...

        2. CHAPTER III NOTES TO THE ACCOUNTS

           1. Preliminary

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 54. (1) Any information required in the case of any company by the following provisions of...

           2. General

              1. Disclosure of accounting policies

              2. 55. The accounting policies adopted by the company in determining the amounts to be included in...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 56. It shall be stated whether the accounts have been prepared in accordance with applicable accounting...

              5. Sums denominated in foreign currencies

              6. 57. Where any sums originally denominated in foreign currencies have been brought into account under any...

           3. Reserves and dividends

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 57A. There must be stated— (a) any amount set aside or proposed to be set aside...

           4. Information supplementing the balance sheet

              1. Share capital and debentures

              2. 58. (1) The following information shall be given with respect to the company's share capital— (a)...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 59. If the company has allotted any shares during the financial year, the following information shall...

              5. This div-1 has a number but no title; creating a P1group with an empty Title

              6. 60. (1) With respect to any contingent right to the allotment of shares in the company...

              7. This div-1 has a number but no title; creating a P1group with an empty Title

              8. 61. (1) If the company has issued any debentures during the financial year to which the...

              9. Assets

              10. 62. (1) In respect of any assets of the company included in Assets items B (intangible...

              11. This div-1 has a number but no title; creating a P1group with an empty Title

              12. 63. Where any assets of the company (other than listed investments) are included under any item...

              13. This div-1 has a number but no title; creating a P1group with an empty Title

              14. 64. In relation to any amount which is included under Assets item C.I (land and buildings)...

              15. Investments

              16. 65. In respect of the amount of each item which is shown in the company's balance...

              17. Information about fair value of assets and liabilities

              18. 65A. (1) This paragraph applies where financial instruments have been valued in accordance with paragraph 29A...

              19. This div-1 has a number but no title; creating a P1group with an empty Title

              20. 65B. Where the company has derivatives that it has not included at fair value, there must...

              21. This div-1 has a number but no title; creating a P1group with an empty Title

              22. 65C. (1) Sub-paragraph (2) applies if— (a) the company has financial fixed assets that could be...

              23. Information where investment property and living animals and plants included at fair value

              24. 65D. (1) This paragraph applies where the amounts to be included in a company's accounts in...

              25. Reserves and provisions

              26. 66. (1) Where any amount is transferred— (a) to or from any reserves; (b) to any...

              27. Provision for taxation

              28. 67. The amount of any provision for deferred taxation shall be stated separately from the amount...

              29. Details of indebtedness

              30. 68. (1) In respect of each item shown under “creditors” in the company's balance sheet there...

              31. This div-1 has a number but no title; creating a P1group with an empty Title

              32. 69. If any fixed cumulative dividends on the company's shares are in arrears, there shall be...

              33. Guarantees and other financial commitments

              34. 70. (1) Particulars shall be given of any charge on the assets of the company to...

              35. Para. 71 rep. by SR 1997/314

              36. Miscellaneous matters

              37. 72. (1) Particulars shall be given of any case where the cost of any asset is...

           5. Information supplementing the profit and loss account

              1. Separate statement of certain items of income and expenditure

              2. 73. (1) Subject to the following provisions of this paragraph, each of the amounts mentioned below...

              3. Particulars of tax

              4. 74. Sub-paras. (1) rep. by SR 1997/314 (2) Particulars shall be given of any special circumstances...

              5. Particulars of business

              6. 75. (1) As regards general business a company shall disclose— (a) gross premiums written, (b) gross...

              7. This div-1 has a number but no title; creating a P1group with an empty Title

              8. 76. (1) As regards long term business, the company shall disclose— (a) gross premiums written, and...

              9. This div-1 has a number but no title; creating a P1group with an empty Title

              10. 77. (1) Subject to sub-paragraph (2) there shall be disclosed as regards both general and long...

              11. Commissions

              12. 78. There shall be disclosed the total amount of commissions for direct insurance business accounted for...

              13. Para. 79 rep. by SR 2004/496

              14. Miscellaneous matters

              15. 80. (1) Where any amount relating to any preceding financial year is included in any item...

           6. CHAPTER IV INTERPRETATION OF PART I

              1. General

              2. 81. (1) The following definitions apply for the purposes of this Part and its Interpretation— Definition...

              3. Financial instruments

              4. 81A. For the purposes of this Part, references to “derivatives” include commodity‐based contracts that give either...

              5. This div-1 has a number but no title; creating a P1group with an empty Title

              6. 81B. (1) The expressions listed in sub‐paragraph (2) have the same meaning in section BA of...

              7. Loans

              8. 82. For the purposes of this Part a loan or advance (including a liability comprising a...

              9. Materiality

              10. 83. For the purposes of this Part amounts which in the particular context of any provision...

              11. Provisions

              12. 84. For the purposes of this Part and its interpretation— (a) references in the Part to...

              13. Staff costs

              14. 85. For the purposes of this Part and its interpretation— (a) “social security costs” means any...

        3. PART II CONSOLIDATED ACCOUNTS

           1. Schedule 4A to apply Part I of this Schedule with modifications

           2. 1. (1) In its application to insurance groups, Schedule 4A shall have effect with the following...

           3. Modifications of Part I of this Schedule for purposes of paragraph 1

           4. 2. (1) For the purposes of paragraph 1, Part I of this Schedule shall be modified...

    16. Schedule 10 rep. by SR 1994/428

    17. SCHEDULE 10A

        PARENT AND SUBSIDIARY UNDERTAKINGS: SUPPLEMENTARY PROVISIONS

        1. Introduction

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 1. The provisions of this Schedule explain expressions used in Article 266 (parent and subsidiary undertakings)...

        2. Voting rights in an undertaking

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 2. (1) In Article 266(2)(a) and (d) the references to the voting rights in an undertaking...

        3. Right to appoint or remove a majority of the directors

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 3. (1) In Article 266(2)(b) the reference to the right to appoint or remove a majority...

        4. Right to exercise dominant influence

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 4. (1) For the purposes of Article 266(2)(c) an undertaking shall not be regarded as having...

        5. Rights exercisable only in certain circumstances or temporarily incapable of exercise

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 5. (1) Rights which are exercisable only in certain circumstances shall be taken into account only—...

        6. Rights held by one person on behalf of another

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 6. Rights held by a person in a fiduciary capacity shall be treated as not held...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 7. (1) Rights held by a person as nominee for another shall be treated as held...

        7. Rights attached to shares held by way of security

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 8. Rights attached to shares held by way of security shall be treated as held by...

        8. Rights attributed to parent undertaking

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 9. (1) Rights shall be treated as held by a parent undertaking if they are held...

        9. Disregard of certain rights

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 10. The voting rights in an undertaking shall be reduced by any rights held by the...

        10. Supplementary

            1. This div-1 has a number but no title; creating a P1group with an empty Title

            2. 11. References in any provision of paragraphs 6 to 10 to rights held by a person...

    18. SCHEDULE 11

        MODIFICATIONS OF PART IX WHERE COMPANY'S ACCOUNTS PREPARED IN ACCORDANCE WITH SPECIAL PROVISIONS FOR BANKING OR INSURANCE COMPANIES

        1. This div-1 has a number but no title; creating a P1group with an empty Title

        2. 1. Paragraphs 2 to 6 apply where a company has prepared accounts in accordance with the...

        3. Modifications where accounts prepared in accordance with special provisions for banking companies

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 2. Article 272(2) shall apply as if the reference to paragraph 88 of Schedule 4 therein...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 3. Article 277 shall apply as if: (a) there were substituted for the words “are shown...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 4. Articles 278(2) and 283 shall apply as if the references therein to paragraphs 87 and...

           7. This div-1 has a number but no title; creating a P1group with an empty Title

           8. 5. Articles 280 and 281 shall apply as if in Article 280(3) there were substituted, for...

           9. This div-1 has a number but no title; creating a P1group with an empty Title

           10. 6. Article 284 shall apply as if the references to paragraphs 12(a) and 34(3)(a) of Schedule...

        4. Modifications where accounts prepared in accordance with special provisions for insurance companies

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 7. Article 272(2) shall apply as if for the words in parentheses there were substituted “(“liabilities”...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 8. Article 277 shall apply as if the reference to paragraph 20 of Schedule 4 in...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 9. In the case of Companies Order accounts, Articles 278(2) and 283 shall apply as if...

           7. This div-1 has a number but no title; creating a P1group with an empty Title

           8. 10. Articles 280 and 281 shall apply as if the references in Article 280(3) to Articles...

           9. This div-1 has a number but no title; creating a P1group with an empty Title

           10. 11. Article 284 shall apply as if the references to paragraphs 12(a) and 34(3)(a) of Schedule...

    19. Schedule 12 rep. by 1989 NI 18

    20. SCHEDULE 13

        PROVISIONS SUPPLEMENTING AND INTERPRETING ARTICLES 332 TO 336

        1. PART I RULES FOR INTERPRETATION OF THOSE ARTICLES AND ALSO ARTICLE 354(4) AND (5)

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 1. (1) A reference to an interest in shares or debentures is to be read as...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 2. Where the property is held on trust and any interest in shares or debentures is...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 3. (1) A person is taken to have an interest in shares or debentures if— (a)...

           7. This div-1 has a number but no title; creating a P1group with an empty Title

           8. 4. A person is taken to be interested in shares or debentures if a body corporate...

           9. This div-1 has a number but no title; creating a P1group with an empty Title

           10. 5. Where a person is entitled to exercise or control the exercise of one-third or more...

           11. This div-1 has a number but no title; creating a P1group with an empty Title

           12. 6. (1) A person is taken to have an interest in shares or debentures if, otherwise...

           13. This div-1 has a number but no title; creating a P1group with an empty Title

           14. 7. Persons having a joint interest are deemed each of them to have that interest.

           15. This div-1 has a number but no title; creating a P1group with an empty Title

           16. 8. It is immaterial that shares or debentures in which a person has an interest are...

           17. This div-1 has a number but no title; creating a P1group with an empty Title

           18. 9. So long as a person is entitled to receive, during the lifetime of himself or...

           19. This div-1 has a number but no title; creating a P1group with an empty Title

           20. 10. A person is to be treated as uninterested in shares or debentures if, and so...

           21. This div-1 has a number but no title; creating a P1group with an empty Title

           22. 11. (1) There is to be disregarded an interest of a person subsisting by virtue of—...

           23. This div-1 has a number but no title; creating a P1group with an empty Title

           24. 12. Delivery to a person's order of shares or debentures in fulfilment of a contract for...

        2. PART II PERIODS WITHIN WHICH OBLIGATIONS IMPOSED BY ARTICLE 332 MUST BE FULFILLED

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 13. (1) An obligation imposed on a person by Article 332(1) to notify an interest must,...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 14. (1) An obligation imposed on a person by Article 332(2) to notify the occurrence of...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 15. In reckoning, for the purposes of paragraphs 13 and 14, any period of 5 days,...

        3. PART III CIRCUMSTANCES IN WHICH OBLIGATION IMPOSED BY ARTICLE 332 IS NOT DISCHARGED

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 16. (1) Where an event of whose occurrence a director is, by virtue of Article 332(2)(a),...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 17. (1) An obligation imposed on a director by virtue of Article 332(2)(c) to notify a...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 18. (1) Where an event of whose occurrence a director is, by virtue of Article 332(2)(d),...

           7. This div-1 has a number but no title; creating a P1group with an empty Title

           8. 19. In this Part, a reference to price paid or received includes any consideration other than...

        4. PART IV PROVISIONS WITH RESPECT TO REGISTER OF DIRECTORS' INTERESTS TO BE KEPT UNDER ARTICLE 333

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 20. The register must be so made up that the entries in it against the several...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 21. An obligation imposed by Article 333(2) to (4) must be fulfilled before the expiration of...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 22. The nature and extent of an interest recorded in the register of a director in...

           7. This div-1 has a number but no title; creating a P1group with an empty Title

           8. 23. The company is not, by virtue of anything done for the urposes of Article 333...

           9. This div-1 has a number but no title; creating a P1group with an empty Title

           10. 24. The register shall— (a) if the company's register of members is kept at its registered...

           11. This div-1 has a number but no title; creating a P1group with an empty Title

           12. 25. (1) Any member of the company or other person may require a copy of the...

           13. This div-1 has a number but no title; creating a P1group with an empty Title

           14. 26. The company shall send notice in the prescribed form to the registrar of the place...

           15. This div-1 has a number but no title; creating a P1group with an empty Title

           16. 27. Unless the register is in such a form as to constitute in itself an index,...

           17. This div-1 has a number but no title; creating a P1group with an empty Title

           18. 28. The register shall be produced at the commencement of the company's annual general meeting and...

    21. SCHEDULE 14

        EXTERNAL BRANCH REGISTERS

        1. PART I COUNTRIES AND TERRITORIES IN WHICH EXTERNAL BRANCH REGISTER MAY BE KEPT

           1. Great Britain

           2. Any part of Her Majesty's dominions outside the United Kingdom, the Channel Islands or the...

           3. Bangladesh

           4. Cyprus

           5. Dominica

           6. The Gambia

           7. Ghana

           8. Guyana

           9. The Hong Kong Special Administrative Region of the People's Republic of China

           10. India

           11. Kenya

           12. Kiribati

           13. Lesotho

           14. Malawi

           15. Malaysia

           16. Malta

           17. Nigeria

           18. Pakistan

           19. Republic of Ireland

           20. Seychelles

           21. Sierra Leone

           22. Singapore

           23. South Africa

           24. Sri Lanka

           25. Swaziland

           26. Trinidad and Tobago

           27. Uganda

           28. Zimbabwe

        2. PART II GENERAL PROVISIONS WITH RESPECT TO EXTERNAL BRANCH REGISTERS

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 1. (1) A company keeping an external branch register shall give to the registrar notice in...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 2. (1) An external branch register is deemed to be part of the company's register of...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 3. (1) The company shall— (a) transmit to its registered office a copy of every entry...

           7. This div-1 has a number but no title; creating a P1group with an empty Title

           8. 4. Subject to the above provisions with respect to the duplicate register, the shares registered in...

           9. This div-1 has a number but no title; creating a P1group with an empty Title

           10. 5. A company may discontinue to keep an external branch register, and thereupon all entries in...

           11. This div-1 has a number but no title; creating a P1group with an empty Title

           12. 6. Subject to the provisions of this Order, any company may, by its articles, make such...

           13. This div-1 has a number but no title; creating a P1group with an empty Title

           14. 7. An instrument of transfer of a share register in an external branch register (other than...

    22. Schedule 15 rep. by 1990 NI 10

    23. SCHEDULE 15A

        WRITTEN RESOLUTIONS OF PRIVATE COMPANIES

        1. PART I EXCEPTIONS

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 1. Article 389A does not apply to— (a) a resolution under Article 311 removing a director...

        2. PART II ADAPTATION OF PROCEDURAL REQUIREMENTS

           1. Introductory

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 2. (1) In this Part (which adapts certain requirements of this Order in relation to proceedings...

           2. Article 105 (disapplication of pre-emption rights)

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 3. (1) The following adaptations have effect in relation to a written resolution under Article 105(2)...

           3. Article 165 (financial assistance for purchase of company's own shares or those of holding company)

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 4. In relation to a written resolution giving approval under Article 165(4) or (5) (financial assistance...

           4. Articles 174, 175 and 177 (authority for off-market purchase or contingent purchase contract of company's own shares)

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 5. (1) The following adaptations have effect in relation to a written resolution— (a) conferring authority...

           5. Article 183 (approval for payment out of capital)

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 6. (1) The following adaptations have effect in relation to a written resolution giving approval under...

           6. Article 327 (approval of director's service contract)

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 7. In relation to a written resolution approving any such term as is mentioned in Article...

           7. Article 345 (funding of director's expenditure in performing his duties)

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 8. In relation to a written resolution giving approval under Article 345(3)(a) (funding a director's expenditure...

    24. SCHEDULE 15B

        PROVISIONS SUBJECT TO WHICH ARTICLES 418 TO 420 HAVE EFFECT IN THEIR APPLICATION TO MERGERS AND DIVISIONS OF PUBLIC COMPANIES

        1. Meeting of transferee company

        2. 1. Subject to paragraphs 10(1), 12(4) and 14(2), the court shall not sanction a compromise or...

        3. Draft terms of merger

        4. 2. (1) The court shall not sanction the compromise or arrangement under Article 418(2) unless— (a)...

        5. Documents and information to be made available

        6. 3. Subject to paragraphs 10 to 14, the court shall not sanction the compromise or arrangement...

        7. Directors' report

        8. 4. (1) The directors' report shall consist of— (a) the statement required by Article 419, and...

        9. Expert's report

        10. 5. (1) Except where a joint expert is appointed under sub-paragraph (2), an expert's report shall...

        11. Inspection of documents

        12. 6. (1) The documents referred to in paragraph 3(e) are, in relation to any company,— (a)...

        13. Transferor company holding its own shares

        14. 7. The court shall not sanction under Article 418(2) a compromise or arrangement under which any...

        15. Securities other than shares to which special rights are attached

        16. 8. (1) Where any security of a transferor company to which special rights are attached is...

        17. Date and consequences of the compromise or arrangement

        18. 9. (1) The following provisions of this paragraph shall apply where the court sanctions a compromise...

        19. Exceptions

        20. 10. (1) The court may sanction a compromise or arrangement under Article 418(2) notwithstanding that— (a)...

        21. This div-1 has a number but no title; creating a P1group with an empty Title

        22. 11. (1) The following sub-paragraphs apply where the scheme is a Case 3 Scheme. (2) Heads...

        23. Transferee company or companies holding shares in the transferor company

        24. 12. (1) Where the scheme is a Case 1 Scheme and in the case of every...

        25. This div-1 has a number but no title; creating a P1group with an empty Title

        26. 13. (1) Where the scheme is a Case 3 Scheme and— (a) the shares in the...

        27. This div-1 has a number but no title; creating a P1group with an empty Title

        28. 14. (1) Where the scheme is a Case 1 Scheme and in the case of every...

        29. Liability of transferee companies for the default of another

        30. 15. (1) Where the scheme is a Case 3 Scheme, each transferee company shall be jointly...

    25. Schs. 15C, 15D prosp. insertion by 2005 NI 17, Sch. 2 para. 19 (which is...

    26. Schedules 16‐19 rep. by 1989 NI 19

    27. SCHEDULE 20

        EFFECT OF REGISTRATION UNDER ARTICLE 629

        1. Interpretation

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 1. In this Schedule— “registration” means registration in pursuance of Article 629, and “instrument” includes deed...

        2. Vesting of property

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 2. All property belonging to or vested in the company at the date of its registration...

        3. Existing liabilities

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 3. Registration does not affect the company's rights or liabilities in respect of any debt or...

        4. Pending actions at law

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 4. (1) All actions and other legal proceedings which at the time of the company's registration...

        5. The company's constitution

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 5. (1) All provisions contained in any statutory provision or other instrument constituting or regulating the...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 6. (1) All the provisions of this Order apply to the company, and to its members,...

        6. Capital structure

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 7. Provisions of this Order with respect to— (a) the registration of an unlimited company as...

        7. Supplementary

           1. This div-1 has a number but no title; creating a P1group with an empty Title

           2. 8. Nothing in paragraphs 5 to 7 authorises a company to alter any such provisions contained...

           3. This div-1 has a number but no title; creating a P1group with an empty Title

           4. 9. None of the provisions of this Order (except Article 454(3)) derogates from any power of...

    28. SCHEDULE 20A

        Branch Registration under the Eleventh Company Law Directive (89/666/EEC)

        1. Duty to Register

        2. 1. (1) A company shall, within one month of having opened a branch in Northern Ireland,...

        3. Particulars required

        4. 2. (1) The particulars referred to in paragraph 1(1)(a) are— (a) the corporate name of the...

        5. This div-1 has a number but no title; creating a P1group with an empty Title

        6. 3. The particulars referred to in paragraph 1(1)(b) are— (a) the address of the branch, (b)...

        7. This div-1 has a number but no title; creating a P1group with an empty Title

        8. 4. The particulars referred to in paragraph 1(1)(c) are— (a) whether it is intended to register...

        9. Documents required

        10. 5. The first documents referred to in paragraph 1(2) are— (a) a certified copy of the...

        11. This div-1 has a number but no title; creating a P1group with an empty Title

        12. 6. (1) The second documents referred to in paragraph 1(2) are— (a) copies of the latest...

        13. Alterations

        14. 7. (1) If, after a company has delivered a return under paragraph (1), any alteration is...

        15. This div-1 has a number but no title; creating a P1group with an empty Title

        16. 8. (1) Sub-paragraph (2) applies where— (a) a company's return under paragraph 1(1) includes a statement...

    29. SCHEDULE 20B

        Change in Registration Regime: Transitional Provisions

        1. This div-1 has a number but no title; creating a P1group with an empty Title

        2. 1. (1) This paragraph applies where a company which becomes a company to which Article 640A...

        3. This div-1 has a number but no title; creating a P1group with an empty Title

        4. 2. (1) This paragraph applies where a company which becomes a company to which Article 641...

    30. SCHEDULE 20C

        Delivery of Reports and Accounts: Credit and Financial Institutions to which The Bank Branches Directive (89/117/EEC) applies

        1. PART I INSTITUTIONS REQUIRED TO PREPARE ACCOUNTS UNDER PARENT LAW

           1. Scope of Part

           2. 1. (1) This Part applies to any institution to which Article 648A applies which is required...

           3. Duty to deliver copies in Northern Ireland

           4. 2. (1) An institution to which this Part applies shall, within one month of becoming such...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 3. (1) An institution to which this Part applies shall deliver to the registrar for registration—...

           7. This div-1 has a number but no title; creating a P1group with an empty Title

           8. 5. (1) Neither paragraph 2 nor paragraph 3 shall require an institution to deliver documents to...

           9. Penalty for non-compliance

           10. 6. (1) If an institution fails to comply with paragraph 2, 3 or 5(2) before the...

           11. Interpretation

           12. 7. (1) In this Part— “financial period”, in relation to an institution means a period for...

        2. PART II INSTITUTIONS NOT REQUIRED TO PREPARE ACCOUNTS UNDER PARENT LAW

           1. Scope of Part

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 8. (1) This part applies to any institution to which Article 648A applies which— (a) is...

           2. Preparation of accounts and reports

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 9. An institution to which this Part applies shall in respect of each financial year of...

              3. This div-1 has a number but no title; creating a P1group with an empty Title

              4. 10. Articles 231 to 233 (financial year and accounting reference periods) apply to an institution to...

           3. Duty to deliver accounts and reports

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 11. (1) An institution to which this Part applies shall in respect of each financial year...

           4. Time for delivery

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 12. (1) The period allowed for delivering accounts and reports under paragraph 11 is 13 months...

           5. Penalty for non-compliance

              1. This div-1 has a number but no title; creating a P1group with an empty Title

              2. 13. (1) If the requirements of paragraph 11 are not complied with before the end of...

    31. SCHEDULE 20D

        Delivery of Reports and Accounts: Companies to which the Eleventh Company Law Directive applies

        1. PART I COMPANIES REQUIRED TO MAKE DISCLOSURE UNDER PARENT LAW

           1. Scope of Part

           2. 1. This Part applies to any company to which Article 648AA applies which is required by...

           3. Duty to deliver copies in Northern Ireland

           4. 2. (1) This paragraph applies in respect of each branch which a company to which this...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 3. Paragraph 2 shall not require documents to be delivered in respect of a branch if—...

           7. Time for delivery

           8. 4. The period allowed for delivery, in relation to a document required to be delivered under...

           9. Penalty for non-compliance

           10. 5. (1) If a company fails to comply with paragraph 2 before the end of the...

           11. Interpretation

           12. 6. (1) In this Part— “financial period”, in relation to a company, means a period for...

        2. PART II COMPANIES NOT REQUIRED TO MAKE DISCLOSURE UNDER PARENT LAW

           1. Scope of Part

           2. 7. This Part applies to any company to which Article 648AA applies which is not required...

           3. Preparation of accounts and reports

           4. 8. A company to which this Part applies shall in respect of each financial year of...

           5. This div-1 has a number but no title; creating a P1group with an empty Title

           6. 9. Articles 231 to 233 (financial year and accounting reference periods) apply to a company to...

           7. Duty to delivery accounts and reports

           8. 10. (1) A company to which this Part applies shall in respect of each financial year...

           9. This div-1 has a number but no title; creating a P1group with an empty Title

           10. 11. Paragraph 10 shall not require documents to be delivered in respect of a branch if—...

           11. Time for delivery

           12. 12. (1) The period allowed for delivery accounts and reports under paragraph 10 is 13 months...

           13. Penalty for non-compliance

           14. 13. (1) If the requirements of paragraph 10 are not complied with before the end of...

    32. SCHEDULE 21

        PROVISIONS OF THIS ORDER APPLYING TO UNREGISTERED COMPANIES

        1. Provisions of this Order applied Subject matter Limitation and exceptions (if any) Part I Interpretation....

    33. SCHEDULE 22

        Form of Statement to be Published by Certain Companies under Article 669

        1. *The share capital of the company is , divided into  shares of   each.

        2. The number of shares issued is  Calls to the amount of pounds per share have...

        3. The liabilities of the company on 1st January ( or July) were— Debts owing to...

        4. *If the company has no share capital the portion of the statement relating to capital...

    34. SCHEDULE 23

        PUNISHMENT OF OFFENCES UNDER THIS ORDER

        1. Article creating offence General nature of offence Mode of Prosecution Punishment Daily default fine (where...

        2. This div-1 has a number but no title; creating a P1group with an empty Title

        3. 1. On indictment

        4. This div-1 has a number but no title; creating a P1group with an empty Title

        5. 2. Summary

        6. This div-1 has a number but no title; creating a P1group with an empty Title

        7. 1. On indictment.

        8. This div-1 has a number but no title; creating a P1group with an empty Title

        9. 2. Summary

        10. This div-1 has a number but no title; creating a P1group with an empty Title

        11. 1. On indictment.

        12. This div-1 has a number but no title; creating a P1group with an empty Title

        13. 2. Summary

        14. This div-1 has a number but no title; creating a P1group with an empty Title

        15. 1. On indictment.

        16. This div-1 has a number but no title; creating a P1group with an empty Title

        17. 2. Summary

        18. This div-1 has a number but no title; creating a P1group with an empty Title

        19. 1. On indictment.

        20. This div-1 has a number but no title; creating a P1group with an empty Title

        21. 2. Summary.

        22. This div-1 has a number but no title; creating a P1group with an empty Title

        23. 1. On indictment.

        24. This div-1 has a number but no title; creating a P1group with an empty Title

        25. 2. Summary.

        26. This div-1 has a number but no title; creating a P1group with an empty Title

        27. 1. On indictment.

        28. This div-1 has a number but no title; creating a P1group with an empty Title

        29. 2. Summary.

        30. This div-1 has a number but no title; creating a P1group with an empty Title

        31. 1. On indictment.

        32. This div-1 has a number but no title; creating a P1group with an empty Title

        33. 2. Summary.

        34. This div-1 has a number but no title; creating a P1group with an empty Title

        35. 1. On indictment.

        36. This div-1 has a number but no title; creating a P1group with an empty Title

        37. 2. Summary.

        38. This div-1 has a number but no title; creating a P1group with an empty Title

        39. 1. On indictment.

        40. This div-1 has a number but no title; creating a P1group with an empty Title

        41. 2. Summary.

        42. This div-1 has a number but no title; creating a P1group with an empty Title

        43. 1. On indictment.

        44. This div-1 has a number but no title; creating a P1group with an empty Title

        45. 2. Summary.

        46. This div-1 has a number but no title; creating a P1group with an empty Title

        47. 1. On indictment

        48. This div-1 has a number but no title; creating a P1group with an empty Title

        49. 2. Summary

        50. This div-1 has a number but no title; creating a P1group with an empty Title

        51. 1. On indictment.

        52. This div-1 has a number but no title; creating a P1group with an empty Title

        53. 2. Summary.

        54. This div-1 has a number but no title; creating a P1group with an empty Title

        55. 1. On indictment.

        56. This div-1 has a number but no title; creating a P1group with an empty Title

        57. 2. Summary.

        58. This div-1 has a number but no title; creating a P1group with an empty Title

        59. 1. On indictment.

        60. This div-1 has a number but no title; creating a P1group with an empty Title

        61. 2. Summary.

        62. This div-1 has a number but no title; creating a P1group with an empty Title

        63. 1. On indictment.

        64. This div-1 has a number but no title; creating a P1group with an empty Title

        65. 2. Summary.

        66. This div-1 has a number but no title; creating a P1group with an empty Title

        67. 1. On indictment.

        68. This div-1 has a number but no title; creating a P1group with an empty Title

        69. 2. Summary.

        70. This div-1 has a number but no title; creating a P1group with an empty Title

        71. 1. On indictment

        72. This div-1 has a number but no title; creating a P1group with an empty Title

        73. 2. Summary

        74. This div-1 has a number but no title; creating a P1group with an empty Title

        75. 1. On indictment.

        76. This div-1 has a number but no title; creating a P1group with an empty Title

        77. 2. Summary.

        78. This div-1 has a number but no title; creating a P1group with an empty Title

        79. 1. On indictment

        80. This div-1 has a number but no title; creating a P1group with an empty Title

        81. 2. Summary

        82. This div-1 has a number but no title; creating a P1group with an empty Title

        83. 1. On indictment.

        84. This div-1 has a number but no title; creating a P1group with an empty Title

        85. 2. Summary.

        86. This div-1 has a number but no title; creating a P1group with an empty Title

        87. 1. On indictment.

        88. This div-1 has a number but no title; creating a P1group with an empty Title

        89. 2. Summary.

        90. This div-1 has a number but no title; creating a P1group with an empty Title

        91. 1. On indictment.

        92. This div-1 has a number but no title; creating a P1group with an empty Title

        93. 2. Summary.

        94. This div-1 has a number but no title; creating a P1group with an empty Title

        95. 1. On indictment.

        96. This div-1 has a number but no title; creating a P1group with an empty Title

        97. 2. Summary.

        98. This div-1 has a number but no title; creating a P1group with an empty Title

        99. 1. On indictment.

        100. This div-1 has a number but no title; creating a P1group with an empty Title

        101. 2. Summary.

        102. This div-1 has a number but no title; creating a P1group with an empty Title

        103. 1. On indictment.

        104. This div-1 has a number but no title; creating a P1group with an empty Title

        105. 2. Summary.

        106. This div-1 has a number but no title; creating a P1group with an empty Title

        107. 1. On indictment.

        108. This div-1 has a number but no title; creating a P1group with an empty Title

        109. 2. Summary.

        110. This div-1 has a number but no title; creating a P1group with an empty Title

        111. 1. On indictment.

        112. This div-1 has a number but no title; creating a P1group with an empty Title

        113. 2. Summary.

        114. This div-1 has a number but no title; creating a P1group with an empty Title

        115. 1. On indictment.

        116. This div-1 has a number but no title; creating a P1group with an empty Title

        117. 2. Summary.

        118. This div-1 has a number but no title; creating a P1group with an empty Title

        119. 1. On indictment

        120. This div-1 has a number but no title; creating a P1group with an empty Title

        121. 2. Summary

        122. This div-1 has a number but no title; creating a P1group with an empty Title

        123. 1. On indictment. 2. Summary.

        124. This div-1 has a number but no title; creating a P1group with an empty Title

        125. 1. On indictment

        126. This div-1 has a number but no title; creating a P1group with an empty Title

        127. 2. Summary

        128. This div-1 has a number but no title; creating a P1group with an empty Title

        129. 1. On indictment.

        130. This div-1 has a number but no title; creating a P1group with an empty Title

        131. 2. Summary.

        132. This div-1 has a number but no title; creating a P1group with an empty Title

        133. 1. On indictment.

        134. This div-1 has a number but no title; creating a P1group with an empty Title

        135. 2. Summary.

        136. This div-1 has a number but no title; creating a P1group with an empty Title

        137. 1. On indictment.

        138. This div-1 has a number but no title; creating a P1group with an empty Title

        139. 2. Summary.

        140. This div-1 has a number but no title; creating a P1group with an empty Title

        141. 1. On indictment.

        142. This div-1 has a number but no title; creating a P1group with an empty Title

        143. 1. On indictment.

        144. This div-1 has a number but no title; creating a P1group with an empty Title

        145. 2. Summary.

        146. This div-1 has a number but no title; creating a P1group with an empty Title

        147. 1. On indictment.

        148. This div-1 has a number but no title; creating a P1group with an empty Title

        149. 2. Summary.

        150. This div-1 has a number but no title; creating a P1group with an empty Title

        151. 1. On indictment.

        152. This div-1 has a number but no title; creating a P1group with an empty Title

        153. 2. Summary.

        154. This div-1 has a number but no title; creating a P1group with an empty Title

        155. 1. On indictment.

        156. This div-1 has a number but no title; creating a P1group with an empty Title

        157. 2. Summary.

        158. This div-1 has a number but no title; creating a P1group with an empty Title

        159. 1. On indictment.

        160. This div-1 has a number but no title; creating a P1group with an empty Title

        161. 2. Summary.

        162. This div-1 has a number but no title; creating a P1group with an empty Title

        163. 1. On indictment.

        164. This div-1 has a number but no title; creating a P1group with an empty Title

        165. 2. Summary.

        166. This div-1 has a number but no title; creating a P1group with an empty Title

        167. 1. On indictment.

        168. This div-1 has a number but no title; creating a P1group with an empty Title

        169. 2. Summary.

        170. This div-1 has a number but no title; creating a P1group with an empty Title

        171. 1. On indictment.

        172. This div-1 has a number but no title; creating a P1group with an empty Title

        173. 2. Summary.

        174. This div-1 has a number but no title; creating a P1group with an empty Title

        175. 1. On indictment.

        176. This div-1 has a number but no title; creating a P1group with an empty Title

        177. 2. Summary.

        178. This div-1 has a number but no title; creating a P1group with an empty Title

        179. 1. On indictment.

        180. This div-1 has a number but no title; creating a P1group with an empty Title

        181. 2. Summary.

        182. This div-1 has a number but no title; creating a P1group with an empty Title

        183. 1. On indictment.

        184. This div-1 has a number but no title; creating a P1group with an empty Title

        185. 2. Summary.

        186. This div-1 has a number but no title; creating a P1group with an empty Title

        187. 1. On indictment.

        188. This div-1 has a number but no title; creating a P1group with an empty Title

        189. 2. Summary.

        190. This div-1 has a number but no title; creating a P1group with an empty Title

        191. 1. On indictment.

        192. This div-1 has a number but no title; creating a P1group with an empty Title

        193. 2. Summary.

        194. This div-1 has a number but no title; creating a P1group with an empty Title

        195. 1. On indictment.

        196. This div-1 has a number but no title; creating a P1group with an empty Title

        197. 2. Summary.

        198. This div-1 has a number but no title; creating a P1group with an empty Title

        199. 1. On indictment.

        200. This div-1 has a number but no title; creating a P1group with an empty Title

        201. 2. Summary.

        202. This div-1 has a number but no title; creating a P1group with an empty Title

        203. 1. On indictment

        204. This div-1 has a number but no title; creating a P1group with an empty Title

        205. 2. Summary

        206. This div-1 has a number but no title; creating a P1group with an empty Title

        207. 1. On indictment.

        208. This div-1 has a number but no title; creating a P1group with an empty Title

        209. 2. Summary.

        210. This div-1 has a number but no title; creating a P1group with an empty Title

        211. 1. On indictment.

        212. This div-1 has a number but no title; creating a P1group with an empty Title

        213. 2. Summary.

        214. This div-1 has a number but no title; creating a P1group with an empty Title

        215. 1. On indictment.

        216. This div-1 has a number but no title; creating a P1group with an empty Title

        217. 2. Summary.

        218. This div-1 has a number but no title; creating a P1group with an empty Title

        219. 1. On indictment.

        220. This div-1 has a number but no title; creating a P1group with an empty Title

        221. 2. Summary.

        222. This div-1 has a number but no title; creating a P1group with an empty Title

        223. 1. On indictment.

        224. This div-1 has a number but no title; creating a P1group with an empty Title

        225. 2. Summary.

        226. This div-1 has a number but no title; creating a P1group with an empty Title

        227. 1. On indictment.

        228. This div-1 has a number but no title; creating a P1group with an empty Title

        229. 2. Summary.

        230. This div-1 has a number but no title; creating a P1group with an empty Title

        231. 1. On indictment.

        232. This div-1 has a number but no title; creating a P1group with an empty Title

        233. 2. Summary.

        234. This div-1 has a number but no title; creating a P1group with an empty Title

        235. 1. On indictment.

        236. This div-1 has a number but no title; creating a P1group with an empty Title

        237. 2. Summary.

        238. This div-1 has a number but no title; creating a P1group with an empty Title

        239. 1. On indictment.

        240. This div-1 has a number but no title; creating a P1group with an empty Title

        241. 2. Summary.

        242. This div-1 has a number but no title; creating a P1group with an empty Title

        243. 1. On indictment.

        244. This div-1 has a number but no title; creating a P1group with an empty Title

        245. 2. Summary.

        246. This div-1 has a number but no title; creating a P1group with an empty Title

        247. 1. On indictment.

        248. This div-1 has a number but no title; creating a P1group with an empty Title

        249. 2. Summary.

        250. This div-1 has a number but no title; creating a P1group with an empty Title

        251. 1. On indictment.

        252. This div-1 has a number but no title; creating a P1group with an empty Title

        253. 2. Summary.

        254. This div-1 has a number but no title; creating a P1group with an empty Title

        255. 1. On indictment.

        256. This div-1 has a number but no title; creating a P1group with an empty Title

        257. 2. Summary.

        258. This div-1 has a number but no title; creating a P1group with an empty Title

        259. 1. On indictment.

        260. This div-1 has a number but no title; creating a P1group with an empty Title

        261. 2. Summary.

        262. This div-1 has a number but no title; creating a P1group with an empty Title

        263. 1. On indictment.

        264. This div-1 has a number but no title; creating a P1group with an empty Title

        265. 2. Summary.

        266. This div-1 has a number but no title; creating a P1group with an empty Title

        267. 1. On indictment.

        268. This div-1 has a number but no title; creating a P1group with an empty Title

        269. 2. Summary.

        270. This div-1 has a number but no title; creating a P1group with an empty Title

        271. 1. On indictment.

        272. This div-1 has a number but no title; creating a P1group with an empty Title

        273. 2. Summary.

        274. This div-1 has a number but no title; creating a P1group with an empty Title

        275. 1. On indictment

        276. This div-1 has a number but no title; creating a P1group with an empty Title

        277. 2. Summary

        278. This div-1 has a number but no title; creating a P1group with an empty Title

        279. 1. On indictment

        280. This div-1 has a number but no title; creating a P1group with an empty Title

        281. 2. Summary

        282. This div-1 has a number but no title; creating a P1group with an empty Title

        283. 1. On indictment

        284. This div-1 has a number but no title; creating a P1group with an empty Title

        285. 2. Summary

        286. This div-1 has a number but no title; creating a P1group with an empty Title

        287. 1. On indictment.

        288. This div-1 has a number but no title; creating a P1group with an empty Title

        289. 2. Summary.

        290. This div-1 has a number but no title; creating a P1group with an empty Title

        291. 1. On indictment.

        292. This div-1 has a number but no title; creating a P1group with an empty Title

        293. 2. Summary.

        294. This div-1 has a number but no title; creating a P1group with an empty Title

        295. 1. On indictment.

        296. This div-1 has a number but no title; creating a P1group with an empty Title

        297. 2. Summary.

        298. This div-1 has a number but no title; creating a P1group with an empty Title

        299. 1. On indictment.

        300. This div-1 has a number but no title; creating a P1group with an empty Title

        301. 2. Summary.

        302. This div-1 has a number but no title; creating a P1group with an empty Title

        303. 1. On indictment.

        304. This div-1 has a number but no title; creating a P1group with an empty Title

        305. 2. Summary.

        306. This div-1 has a number but no title; creating a P1group with an empty Title

        307. 1. On indictment.

        308. This div-1 has a number but no title; creating a P1group with an empty Title

        309. 2. Summary.

        310. This div-1 has a number but no title; creating a P1group with an empty Title

        311. 1. On indictment.

        312. This div-1 has a number but no title; creating a P1group with an empty Title

        313. 2. Summary.

        314. This div-1 has a number but no title; creating a P1group with an empty Title

        315. 1. On indictment.

        316. This div-1 has a number but no title; creating a P1group with an empty Title

        317. 2. Summary.

    35. SCHEDULE 24

        ARTICLE 39 OF THE ORDER OF 1982, AS ORIGINALLY ENACTED

        1. Relief from section 56 in respect of group reconstructions

        2. 39. (1) This Article applies where the issuing company— (a) is a wholly-owned subsidiary of another...