C1C2Part 23Distributions

Annotations:
Modifications etc. (not altering text)

Chapter 3Supplementary provisions

Other matters

I1850Treatment of certain older profits or losses

1

Where the directors of a company are, after making all reasonable enquiries, unable to determine whether a particular profit made before the relevant date is realised or unrealised, they may treat the profit as realised.

2

Where the directors of a company, after making all reasonable enquiries, are unable to determine whether a particular loss made before the relevant date is realised or unrealised, they may treat the loss as unrealised.

3

For the purposes of this section the relevant date is—

a

for companies registered in Great Britain, 22nd December 1980;

b

for companies registered in Northern Ireland, 1st July 1983.