Version Superseded: 06/04/2008
Point in time view as at 22/03/2005. This version of this provision has been superseded.
There are currently no known outstanding effects for the Companies Act 1985, Paragraph 1.
1F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)If, in the case of [F2such of the fixed assets of the company F3. . . ] as consist in interests in land, their market value (as at the end of the financial year) differs substantially from the amount at which they are included in the balance sheet, and the difference is, in the directors’ opinion, of such significance as to require that the attention of members of the company or of holders of its debentures should be drawn to it, the report shall indicate the difference with such degree of precision as is practicable.
[F4(3)In relation to a group directors' report sub-paragraph (2) has effect as if the reference to the fixed assets of the company was a reference to the fixed assets of the company and of its subsidiary undertakings included in the consolidation.]
Textual Amendments
F1Sch. 7 para. 1(1) repealed (2.2.1996) by S.I. 1996/189, reg. 14(4)(a) (with reg. 16)
F2Words in Sch. 7 para. 1(2) substituted (2.2.1996) by S.I. 1996/189, reg. 15(3) (with reg. 16)
F3Words in Sch. 7 para. 1(2) omitted (22.3.2005) by virtue of The Companies Act 1985 (Operating and Financial Review and Directors' Report etc.) Regulations 2005 (S.I. 2005/1011), reg. 7(2)(a)
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