28. In section 275 (treatment of assets in the relevant accounts), for subsection (1) substitute–
“(1) For purposes of sections 263 and 264, the following are treated as realised losses–
(a)in the case of Companies Act individual accounts, provisions of any kind mentioned in paragraphs 88 and 89 of Schedule 4 (other than revaluation provisions), and
(b)in the case of IAS individual accounts, provisions of any kind (other than revaluation provisions).
(1A) In subsection (1), a revaluation provision means a provision in respect of a diminution in value of a fixed asset appearing on a revaluation of all the fixed assets of the company, or of all of its fixed assets other than goodwill”.