SCHEDULES
SCHEDULE 4Amounts not fully recognised for accounting purposes
Loan relationships
3
1
Section 312 (determination of credits and debits where amounts not fully recognised) is amended as follows.
2
For subsection (1A) substitute—
1A
Subsection (1B) applies in a case where—
a
pursuant to the arrangements mentioned in section 311(2)(b), the company becomes, or is treated as becoming, a party to a debtor relationship, and
b
an amount is (in accordance with generally accepted accounting practice) not fully recognised for any period in respect of the debtor relationship.
3
In subsection (1B) omit “by reference to which that condition is met”.
4
In subsection (3) for “But” substitute
But—
a
no debits are, as a result of this section, to be brought into account by the company in respect of the creditor relationship mentioned in section 311(2), and
b