Part XXVI Interpretation
742F1 Expressions used in connection with accounts.
1
In this Act, unless a contrary intention appears, the following expressions have the same meaning as in Part VII (accounts)—
“annual accounts,”
“accounting reference date” and “accounting reference period”,
“balance sheet” and “balance sheet date”,
“current assets”,
“financial year”, in relation to a company,
“fixed assets”,
“parent company” and “parent undertaking”,
“profit and loss account”, and
“subsidiary undertaking”.
2
References in this Act to “realised profits” and “realised losses”, in relation to a company’s accounts, shall be construed in accordance with section 262(3).