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

25.—(1) Section 269(2) (treatment of development costs)(1) is amended as follows.

(2) Omit “and” at the end of paragraph (a).

(3) In paragraph (b)–

(a) at the beginning insert—

“it is stated–

(i) in the case of Companies Act individual accounts, in”;

(b) for “states” substitute—

“, or

(ii) in the case of IAS individual accounts, in any note to the accounts,”;

(c) for “and explains” substitute—

“, and

(c) the note explains”.

(1)

Section 269 was amended by regulation 7 of S.I. 1997/220.