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Changes over time for: Paragraph 2
Timeline of Changes
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Version Superseded: 06/04/2008
Status:
Point in time view as at 30/04/2001. This version of this provision has been superseded.
Status
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Changes to legislation:
There are currently no known outstanding effects for the Companies Act 1985, Paragraph 2.
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2(1)Where in accordance with paragraph 1 a company’s profit and loss account for any financial year has been prepared by reference to one of the formats set out in section B below, the directors of the company shall adopt the same format in preparing the profit and loss account for subsequent financial years of the company unless in their opinion there are special reasons for a change.
(2)Particulars of any change in the format adopted in preparing a company’s profit and loss account in accordance with paragraph 1 shall be disclosed, and the reasons for the change shall be explained, in a note to the accounts in which the new format is first adopted.
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