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- Original (As enacted)
Version Superseded: 02/12/1991
Point in time view as at 01/02/1991.
Companies Act 1985, SCHEDULE 11 is up to date with all changes known to be in force on or before 27 November 2024. 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.
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Section 279.
Textual Amendments
F1Sch. 11 : heading substituted (subject to the transitional and savings provisions in S.I. 1990/355, arts. 6–9, Sch. 3 para. 1) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 21(2)
X11Section 264 applies as if in subsection (2) for the words following “the aggregate of its liabilities” there were substituted “(“liabilities” to include any provision within the meaning of [F2Part I of Schedule 9], except to the extent that that provision is taken into account in calculating the value of any asset of the company)”.
Editorial Information
X1Sch. 11 paras. 1-7 were renumbered as paras. 7-13 and new paras. 1-6 inserted (2.12.1991) by S.I. 1991/2705, regs. 7, 9, Sch. 3 para. 1(3)
Textual Amendments
F2Words substituted (subject to the transitional and savings provisions in S.I. 1990/355, arts. 6-9, Sch. 3 para. 1) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 21(3)
X22Section 265 applies as if—
(a)for subsection (2) there were substituted—
“(2)In subsection (1)(a), “liabilities” includes any provision (within the meaning of [F3Part I of Schedule 9]) except to the extent that that provision is taken into account for the purposes of that subsection in calculating the value of any asset of the company”, and
(b)there were added at the end of the section—
“(7)In determining capital and revenue profits and losses, an asset which is not a fixed asset or a current asset is treated as a fixed asset”.
Editorial Information
X2Sch. 11 paras. 1-7 were renumbered as paras. 7-13 and new paras. 1-6 inserted (2.12.1991) by S.I. 1991/2705, regs. 7, 9, Sch. 3 para. 1(3)
Textual Amendments
F3Words substituted (subject to the transitional and savings provisions in S.I. 1990/355, arts. 6-9, Sch. 3 para. 1) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 21(3)
X33Section 269 does not apply.
Editorial Information
X3Sch. 11 paras. 1-7 were renumbered as paras. 7-13 and new paras. 1-6 inserted (2.12.1991) by S.I. 1991/2705, regs. 7, 9, Sch. 3 para. 1(3)
X44Section 270 applies as if—
(a)in subsection (2) the following were substituted for paragraph (b)—
“(b)provisions (within the meaning of [F4Part I of Schedule 9])”;
(b), (c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5
Editorial Information
X4Sch. 11 paras. 1-7 were renumbered as paras. 7-13 and new paras. 1-6 inserted (2.12.1991) by S.I. 1991/2705, regs. 7, 9, Sch. 3 para. 1(3)
Textual Amendments
F4Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 21(4)(a) (subject to the transitional and savings provisions in S.I. 1990/355, arts. 6?9, Sch. 3 para. 1)
F5Sch. 11 Para. 4( b )( c ) repealed (subject to the transitional and savings provisions in S.I. 1990/355, arts. 5-9, Sch. 3 para. 1) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 212, 213(2), Sch. 10 para. 21(4)(b), Sch. 24
X55Section 271 applies as if—
(a)in subsection (2), immediately before paragraph (a) there were inserted “except where the company is entitled to avail itself, and has availed itself, of any of the provisions of [F6paragraph 27 or 28 of Schedule 9]”, and
(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7
Editorial Information
X5Sch. 11 paras. 1-7 were renumbered as paras. 7-13 and new paras. 1-6 inserted (2.12.1991) by S.I. 1991/2705, regs. 7, 9, Sch. 3 para. 1(3)
Textual Amendments
F6Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 21(5)(a) (subject to the transitional and savings provisions in S.I. 1990/355, arts. 6?9, Sch. 3 para. 1)
F7Sch. 11 para 5( b ) repealed (subject to the transitional and savings provisions in S.I. 1990/355, arts. 5?9, Sch. 3 para. 1) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 212, 213(2), Sch. 10 para. 21(5)(b), Sch. 24
X66Sections 272 and 273 apply as if in section 272(3)—
(a)for the references to [F8section 226] and Schedule 4 there were substituted references to [F9section 255 and Part I of Schedule 9], and
(b)immediately before paragraph (a) there were inserted “except where the company is entitled to avail itself, and has availed itself, of any of the provisions of [F10paragraph 27 or 28 of Schedule 9]”.
Editorial Information
X6Sch. 11 paras. 1-7 were renumbered as paras. 7-13 and new paras. 1-6 inserted (2.12.1991) by S.I. 1991/2705, regs. 7, 9, Sch. 3 para. 1(3)
Textual Amendments
F8Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 21(6)(a) (subject to the transitional and savings provisions in S.I. 1990/355, arts. 6?9, Sch. 3 para. 1)
F9Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 21(6)(a) (subject to the transitional and savings provisions in S.I. 1990/355, arts. 6?9, Sch. 3 para. 1)
F10Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 21(6)(b) (subject to the transitional and savings provisions in S.I. 1990/355, arts. 6?9, Sch. 3 para. 1)
X77Section 275 applies as if—
(a)for subsection (1) there were substituted—
“(1)For purposes of section 263, any provision (within the meaning of [F11Part I of Schedule 9]), other than one in respect of any diminution of value of a fixed asset appearing on a revaluation of all the fixed assets of the company, or of all its fixed assets other than goodwill, is to be treated as a realised loss”; and
(b)“fixed assets” were defined to include any other asset which is not a current asset.
Editorial Information
X7Sch. 11 paras. 1-7 were renumbered as paras. 7-13 and new paras. 1-6 inserted (2.12.1991) by S.I. 1991/2705, regs. 7, 9, Sch. 3 para. 1(3)
Textual Amendments
F11Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 21(7) (subject to the transitional and savings provisions in S.I. 1990/355, arts. 6?9, Sch. 3 para. 1)
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