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Companies Act 1985
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- UK Public General Acts
- 1985 c. 6
- SCHEDULE 4
- Part III
- Paragraph 45C
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Changes over time for: Paragraph 45C
No versions valid at: 01/12/2003
Alternative versions:
- 12/11/2004- Amendment
- 01/12/2003
Point in time - Stop date 06/04/2008- Amendment
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Point in time view as at 01/12/2003. This version of this provision is not valid for this point in time.
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There are currently no known outstanding effects for the Companies Act 1985, Paragraph 45C.
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Valid from 12/11/2004
45C(1)Sub-paragraph (2) applies if–
(a)the company has financial fixed assets that could be included at fair value by virtue of paragraph 34A,
(b)the amount at which those assets are included under any item in the company’s accounts is in excess of their fair value, and
(c)the company has not made provision for diminution in value of those assets in accordance with paragraph 19(1) of this Schedule.
(2)There must be stated–
(a)the amount at which either the individual assets or appropriate groupings of those individual assets are included in the company’s accounts,
(b)the fair value of those assets or groupings, and
(c)the reasons for not making a provision for diminution in value of those assets, including the nature of the evidence that provides the basis for the belief that the amount at which they are stated in the accounts will be recovered.
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