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Changes over time for: Paragraph 85
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Version Superseded: 06/04/2008
Status:
Point in time view as at 01/10/2007. This version of this provision has been superseded.
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Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
Changes to legislation:
There are currently no known outstanding effects for the Companies Act 1985, Paragraph 85.
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ProvisionsE+W+S
85For the purposes of this Part of this Schedule and its interpretation:
(a)references in this Part to provisions for depreciation or diminution in value of assets are to any amount written off by way of providing for depreciation or diminution in value of assets;
(b)any reference in the profit and loss account formats or the notes thereto set out in Section B of this Part to the depreciation of, or amounts written off, assets of any description is to any provision for depreciation or diminution in value of assets of that description; and
(c)references in this Part to [provisions for liabilities] are to any amount retained as reasonably necessary for the purpose of providing for any liability [the nature of which is clearly defined and] which is either likely to be incurred, or certain to be incurred but uncertain as to amount or as to the date on which it will arise.
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