(1)This section applies for the purposes of section 496(1)(d).
(2)Subsection (3) applies to expenditure which is referable to commitments (whether or not of a contractual nature) that the charitable company has entered into before or during an accounting period.
(3)The expenditure is treated as incurred in the accounting period if, had the charitable company been required to draw up accounts that met the requirements mentioned in subsection (4), the expenditure would have been required to be taken into account in preparing those accounts.
(4)The requirements referred to in subsection (3) are—
(a)that the accounts are drawn up for the accounting period, and
(b)that UK generally accepted accounting practice applies with respect to them.