Editorial Information
X1Sch. 10: the earliest available versions of Sch. 10 and its contents are those having effect on 2.12.1991
Textual Amendments
F1Sch. 10 substituted by Companies Act 1989 (c. 40, SIF 27), ss. 18(5), 213(2), Sch. 8 (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6–9)
F2Words in Sch. 10 heading repealed (2.12.1991) by S.I. 1991/2705, regs. 6, 9, Sch. 2, para. 5(a).
Textual Amendments
F3Sch. 10 substituted by Companies Act 1989 (c. 40, SIF 27), ss. 18(5), 213(2), Sch. 8 (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6–9)
2(1)This paragraph applies where a company prepares group accounts in accordance with the special provisions of this Part relating to F4. . . insurance groups.
(2)If in the course of the financial year to which the accounts relate the group carried on business of two or more classes F5. . . that in the opinion of the directors differ substantially from each other, there shall be contained in the directors’ report a statement of—
(a)the proportions in which the turnover for the financial year (so far as stated in the consolidated accounts) is divided amongst those classes (describing them), and
(b)as regards business of each class, the extent or approximate extent (expressed in money terms) to which, in the opinion of the directors, the carrying on of business of that class contributed to or restricted the profit or loss of the group for that year (before taxation).
(3)In sub-paragraph (2) “the group” means the undertakings included in the consolidation.
(4)For the purposes of this paragraph classes of business which in the opinion of the directors do not differ substantially from each other shall be treated as one class.
Textual Amendments
F4Words in Sch. 10 para. 2(1) repealed (2.12.1991) by S.I. 1991/2705, regs. 6, 9, Sch. 2, para. 5(a).
F5Words in Sch. 10 para. 2(2) repealed (2.12.1991) by S.I. 1991/2705, regs. 6, 9, Sch. 2, para. 5(b).