Textual Amendments
F2Sch. 9: by virtue of S.I. 1991/2705, regs. 5(1), 9, Pts. I and II of Sch. 9 have formed (2.12.1991) a new Schedule numbered Schedule 9A.
Textual Amendments
F3Sch. 9: by virtue of S.I. 1991/2705, regs. 5(1), 9, Pts. I and II of Sch. 9 have formed (2.12.1991) a new Schedule numbered Schedule 9A.
F4Sch. 9 Pt. I: descriptive Part heading before paragraph 2 substituted by Companies Act 1989 (c. 40, SIF 27), ss. 18(3)(4), 213(2), Sch. 7 (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6-9)
Textual Amendments
F5Sch. 9: heading before para. 27 inserted by Companies Act 1989 (c. 40, SIF 27), ss. 18(3)(4), 213(2), Sch. 7 Pt. I para. 8(1) (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6-9)
F6Sch. 9: by virtue of S.I. 1991/2705, regs. 5(1), 9, Pts. I and II of Sch. 9 have formed (2.12.1991) a new Schedule numbered Schedule 9A.
F727(1)The following applies to a banking company (if not subject to the M1Banking Companies (Accounts) Regulations 1970) which satisfies the Secretary of State that it ought to have the benefit of this paragraph.
(2)The company shall not be subject to the requirements of [F8paragraphs 2 to 18 of this Schedule] other than—
(a)as respects its balance sheet, those of paragraphs 2 and 3, paragraph 4 (so far as it relates to assets), paragraph 10 (except sub-paragraphs (1)(d) and (4)), paragraphs 11 and 12 and paragraph 13 (except sub-paragraphs (9), (10), (11), (13) and (14)); and
(b)as respects its profit and loss account, those of sub-paragraph (1)(h) and (k) of paragraph 14, [F9and paragraph 15].
(3)But, where in the company’s balance sheet reserves or provisions (other than provisions for depreciation, renewals or diminution in value of assets) are not stated separately, any heading stating an amount arrived at after taking into account a reserve or such a provision shall be so framed or marked as to indicate that fact, and its profit and loss account shall indicate by appropriate words the manner in which the amount stated for the company’s profit or loss has been arrived at.
(4)The company’s accounts shall not be deemed, by reason only of the fact that they do not comply with any requirements . . . F10 from which the company is exempt by virtue of this paragraph, not to give the true and fair view required by this Act.
Textual Amendments
F7Sch. 9: by virtue of S.I. 1991/2705, regs. 5(1), 9, Pts. I and II of Sch. 9 have formed (2.12.1991) a new Schedule numbered Schedule 9A.
F8Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 18(3)(4), 213(2), Sch. 7 Pt. I para. 8(2)(a) (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6-9)
F9Words substituted by Companies Act 1989 (c. 40, SIF 27), s. 18(3)(4), Sch. 7 Pt. I para. 8(2)(b) (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6-9)
F10Words repealed (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 5-9, Sch. 2) by Companies Act 1989 (c. 40, SIF 27), ss. 18(3)(4), 212, 213(2), Sch. 7 Pt. I para. 8(3), Sch. 24
Marginal Citations