Part 12Accrued income profits
Chapter 2Accrued income profits and losses
Interpretation
676Nominal value of securities: general
1
If the interest on securities is expressed to be payable by reference to a given value, for the purposes of this Chapter their nominal value is that value.
2
In any other case, the nominal value of securities for those purposes is their price when they were issued.
3
See section 677 if the nominal value of the securities is expressed in a currency other than sterling.