The Companies Act 1985 (Miscellaneous Accounting Amendments) Regulations 1996

Regulation 14(8)

SCHEDULE 6 MODIFICATIONS OF PART VIII OF THE 1985 ACT WHERE COMPANY'S ACCOUNTS PREPARED IN ACCORDANCE WITH SPECIAL PROVISIONS FOR INSURANCE COMPANIES

1.  Schedule 11 (modifications of Part VIII where company’s accounts prepared in accordance with special provisions for banking or insurance companies)(1) is amended as follows.

2.  For paragraph 7 (modification of section 264(2)) substitute —

“7.   Section 264(2) shall apply as if for the words in parentheses there were substituted “(“liabilities””to include any provision for other risks and charges within paragraph 84(c) of Part I of Schedule 9A and any amount included under Liabilities items Ba (fund for future appropriations), C (technical provisions) and D (technical provisions for linked liabilities) in a balance sheet drawn up in accordance with the balance sheet format set out in section B of Part I of Schedule 9A).”

3.  For paragraph 9 (modification of sections 270(2) and 275) substitute—

“9.   Sections 270(2) and 275 shall apply as if the reference to provisions of any of the kinds mentioned in paragraphs 88 and 89 of Schedule 4 were a reference to provisions of any of the kinds mentioned in paragraph 84 of Part I of Schedule 9A and to any amount included under Liabilities items Ba (fund for future appropriations), C (technical provisions) and D (technical provisions for linked liabilities) in a balance sheet drawn up in accordance with the balance sheet format set out in section B of Part I of Schedule 9A.”

(1)

Schedule 11 was amended by regulation 7 of, and paragraph 1 of Schedule 3 to, S.I. 1991/2705, and by regulation 5 of, and paragraph 8 of Schedule 2 to, S.I. 1993/3246.