Transport Act 2000
2000 CHAPTER 38
Commentary on Sections
Part I: Air Traffic
Chapter Ii: Transfer Schemes
Sections 47 and 48: Accounting provisions
44.Section 47 deals with certain accounting and valuation matters with regard to transfer schemes. Its principal purpose is to specify rules to determine the value of any asset or liability transferred to a company under a scheme, for the purposes of the opening accounts of that company. Section 48 defines certain terms used in section 47.
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