Prospective

Financial statements for G (property rental business) and G (residual) U.K.

Treatment of certain exceptional items U.K.

7.—(1) This regulation applies to items which—

(a) arise from events or transactions that are outside the ordinary transactions of the group, and

(b) are not expected to recur regularly and frequently.

(2) The financial statement for G (property rental business) for an accounting period and the financial statement for G (residual) for an accounting period must show the items to which this regulation applies.

(3) For the purposes of paragraph 7 of Schedule 17 (which modifies section 108 (conditions for balance of business)), the items to which this regulation applies are excluded from—

(a) the amount of the income, expenses and profits accruing from any business, and

(b) the amount of the assets involved in any business.

Commencement Information

I1 Reg. 7 in force at 1.1.2007, see reg. 1(1)