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Companies Act 1985
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Changes over time for: Paragraph 29B
No versions valid at: 01/12/2003
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- 12/11/2004- Amendment
- 01/12/2003
Point in time - Stop date 06/04/2008- Amendment
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Valid from 12/11/2004
Determination of fair valueU.K.
29B(1)The fair value of a financial instrument is determined in accordance with this paragraph.
(2)If a reliable market can readily be identified for the financial instrument, its fair value is determined by reference to its market value.
(3)If a reliable market cannot readily be identified for the financial instrument but can be identified for its components or for a similar instrument, its fair value is determined by reference to the market value of its components or of the similar instrument.
(4)If neither sub-paragraph (2) nor (3) applies, the fair value of the financial instrument is a value resulting from generally accepted valuation models and techniques.
(5)Any valuation models and techniques used for the purposes of sub-paragraph (4) must ensure a reasonable approximation of the market value.
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