Search Legislation

Companies Act 1985

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Cross Heading: Inclusion of financial instruments at fair value

 Help about opening options

No versions valid at: 15/07/1992

Alternative versions:

Status:

Point in time view as at 15/07/1992. This version of this cross heading contains provisions that are not valid for this point in time. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Companies Act 1985, Cross Heading: Inclusion of financial instruments at fair value. Help about Changes to Legislation

Valid from 12/11/2004

Inclusion of financial instruments at fair valueU.K.

34A(1)Subject to sub-paragraphs (2) to (4), financial instruments (including derivatives) may be included at fair value.

(2)Sub-paragraph (1) does not apply to financial instruments which constitute liabilities unless–

(a)they are held as part of a trading portfolio, or

(b)they are derivatives.

(3)Sub-paragraph (1) does not apply to–

(a)financial instruments (other than derivatives) held to maturity;

(b)loans and receivables originated by the company and not held for trading purposes;

(c)interests in subsidiary undertakings, associated undertakings and joint ventures;

(d)equity instruments issued by the company;

(e)contracts for contingent consideration in a business combination;

(f)other financial instruments with such special characteristics that the instruments, according to generally accepted accounting principles or practice, should be accounted for differently from other financial instruments.

(4)If the fair value of a financial instrument cannot be determined reliably in accordance with paragraph 34B, sub-paragraph (1) does not apply to that financial instrument.

(5)In this paragraph–

  • associated undertaking” has the meaning given by paragraph 20 of Schedule 4A; and

  • joint venture” has the meaning given by paragraph 19 of that Schedule.

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?