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Companies Act 1985
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- UK Public General Acts
- 1985 c. 6
- SCHEDULE 8
- PART II
- Section B
- Current assets
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Changes over time for: Cross Heading: Current assets
Version Superseded: 06/04/2008
Alternative versions:
- 01/03/1997- Amendment
- 06/04/1997
Point in time - 06/04/2008- Amendment
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Point in time view as at 06/04/1997.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: Current assets.
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Current assetsE+W+S
F122Subject to paragraph 23, the amount to be included in respect of any current asset shall be its purchase price or production cost.
Textual Amendments
F1Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
F223(1)If the net realisable value of any current asset is lower than its purchase price or production cost the amount to be included in respect of that asset shall be the net realisable value.
(2)Where the reasons for which any provision for diminution in value was made in accordance with sub-paragraph (1) have ceased to apply to any extent, that provision shall be written back to the extent that it is no longer necessary.
Textual Amendments
F2Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
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