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Companies Act 1985

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Changes over time for: Cross Heading: Provisions

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Version Superseded: 12/11/2004

Status:

Point in time view as at 06/04/1997.

Changes to legislation:

There are currently no known outstanding effects for the Companies Act 1985, Cross Heading: Provisions. Help about Changes to Legislation

ProvisionsE+W+S

88(1)References to provisions for depreciation or diminution in value of assets are to any amount written off by way of providing for depreciation or diminution in value of assets.

(2)Any reference in the profit and loss account formats set out in Part I of this Schedule to the depreciation of, or amounts written off, assets of any description is to any provision for depreciation or diminution in value of assets of that description.

89References to provisions for liabilities or charges are to any amount retained as reasonably necessary for the purposes of providing for any liability or loss which is either likely to be incurred, or certain to be incurred but uncertain as to amount or as to the date on which it will arise.

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S

90—92.

Textual Amendments

F1Sch. 4 Pt. VII paras. 87, 90–92, 95 repealed (subject to the transitional and saving provisions mentioned in S.I. 1990/355, art. 5) by Companies Act 1989 (c. 40, SIF 27), ss. 212, 213(2), Sch. 24

Scots land tenureE+W+S

93In the application of this Schedule to Scotland, “land of freehold tenure” means land in respect of which the company is the proprietor of thedominium utile or, in the case of land not held on feudal tenure, is the owner; “land of leasehold tenure” means land of which the company is the tenant under a lease; and the reference to ground-rents, rates and other outgoings includes feu-duty and ground annual.

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