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Changes over time for: Paragraph 23
Timeline of Changes
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Version Superseded: 06/04/2008
Status:
Point in time view as at 30/04/2001. This version of this provision has been superseded.
Status
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Changes to legislation:
There are currently no known outstanding effects for the Companies Act 1985, Paragraph 23.
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23(1)If the net realisable value of any current asset is lower than its purchase price or production cost the amount to be included in respect of that asset shall be the net realisable value.
(2)Where the reasons for which any provision for diminution in value was made in accordance with sub-paragraph (1) have ceased to apply to any extent, that provision shall be written back to the extent that it is no longer necessary.
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