Transport Act 2000

48 Accounting provisions: interpretation. U.K.

(1) This section applies for the purposes of section 47.

(2) The opening accounts of the transferee are—

(a) if the transferee is the CAA, the annual accounts prepared by it in accordance with section 15 of the M1 Civil Aviation Act 1982 for the accounting year next ending after the transfer date;

(b) if the transferee is a company, any statutory accounts prepared by it for the accounting year next ending after the transfer date.

(3) The last full accounts of the transferor are—

(a) if the transferor is the CAA, the annual accounts prepared by it in accordance with section 15 of the M2 Civil Aviation Act 1982 for the accounting year last ended before the making of the transfer scheme;

(b) if the transferor is a company, the statutory accounts of the company for the accounting year last ended before the making of the transfer scheme.

(4) An accounting year is—

(a) in the case of the CAA, the period of 12 months ending with 31 March in any year;

(b) in the case of a company, its financial year within the meaning of the M3 Companies Act 1985 or the M4 Companies (Northern Ireland) Order 1986.

(5) Statutory accounts are accounts prepared by a company for the purpose of any provision of the M5 Companies Act 1985 or the M6 Companies (Northern Ireland) Order 1986 (including group accounts).

Commencement Information

I1 S. 48 wholly in force at 1.2.2001, see s. 275(1)(2) and S.I. 2001/57, art. 3(1), Sch. 2 Pt. I (subject to the transitional provision and saving in Sch. 2 Pt. II)

Marginal Citations

M1 1982 c. 16.

M2 1982 c. 16.

M3 1985 c. 6.

M4 S.I. 1986/1032 (N.I. 6).

M5 1985 c. 6.

M6 S.I. 1986/1032 (N.I. 6).