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Changes over time for: Cross Heading: Inclusion of financial instruments at fair value
Timeline of Changes
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No versions valid at: 15/07/1992
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Point in time view as at 15/07/1992.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.
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Changes to legislation:
There are currently no known outstanding effects for the Companies Act 1985, Cross Heading: Inclusion of financial instruments at fair value.
Changes to Legislation
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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–
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