SCHEDULES

SCHEDULE 10U.K.Amendment of enactments that operate by reference to accounting practice

Part 1U.K.Loan relationships

Special computational provisionsU.K.

21(1)Paragraph 5A (bad debts and consortium relief) is amended as follows.U.K.

(2)In the heading for “Bad debts” substitute Impairment losses.

(3)In sub-paragraph (2) for “by virtue of paragraph 5 above a debit” substitute “ an impairment loss ”.

(4)In sub-paragraphs (5)(a) and (8)(b) for “debits brought into account for that period by virtue of paragraph 5 above” substitute “ impairment losses brought into account for that period ”.

(5)In sub-paragraph (9) omit “by virtue of paragraph 5(2) above”.

(6)In sub-paragraph (14), in the closing words, for “sub-paragraph (12)” substitute “ sub-paragraph (6) ”.

(7)For sub-paragraph (15)(a) substitute—

(a)the debtor consortium company has, in accordance with an amortised cost basis of accounting, brought into account for an accounting period an amount in respect of a release of any liability under a debtor relationship, and.

(8)In the closing words of sub-paragraph (15) omit “under paragraph 5(1)”.

(9)In sub-paragraph (19), in the definition of “related debt recovery credit” for “by virtue of paragraph 5(2) above in connection with a bad debt” substitute “ in connection with a debt ”.