Transport Act 2000, Section 48 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(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 M1Civil 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 M2Civil 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 [F1the Companies Act 2006].
(5)Statutory accounts are accounts prepared by a company for the purpose of any provision of [F2the Companies Act 2006] (including group accounts).
Textual Amendments
F1Words in s. 48(4)(b) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 218(2) (with arts. 6, 11, 12)
F2Words in s. 48(5) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 218(2) (with arts. 6, 11, 12)
Commencement Information
I1S. 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
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