Valid from 16/11/1992
Editorial Information
X1Sch. 8: the earliest available versions of Sch. 8 and its contents are those having effect on 16.11.1992
Textual Amendments
F1Sch. 8 substituted (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6–9) by Companies Act 1989 (c. 40, SIF 27), ss. 13(2), 213(2), Sch. 6
Valid from 01/03/1997
Valid from 12/11/2004
34B(1)The fair value of a financial instrument is determined in accordance with this paragraph.
(2)If a reliable market can readily be identified for the financial instrument, its fair value is determined by reference to its market value.
(3)If a reliable market cannot readily be identified for the financial instrument but can be identified for its components or for a similar instrument, its fair value is determined by reference to the market value of its components or of the similar instrument.
(4)If neither sub-paragraph (2) nor (3) applies, the fair value of the financial instrument is a value resulting from generally accepted valuation models and techniques.
(5)Any valuation models and techniques used for the purposes of sub-paragraph (4) must ensure a reasonable approximation of the market value.