SCHEDULES
SCHEDULE 9
PART IINDIVIDUAL ACCOUNTS
Special Rules
Sale and repurchase transactions13
1
The following rules apply where a company is a party to a sale and repurchase transaction.
2
Where the company is the transferor of the assets under the transaction:
a
the assets transferred shall, notwithstanding the transfer, be included in its balance sheet;
b
the purchase price received by it shall be included in its balance sheet as an amount owed to the transferee; and
c
the value of the assets transferred shall be disclosed in a note to its accounts.
3
Where the company is the transferee of the assets under the transaction it shall not include the assets transferred in its balance sheet but the purchase price paid by it to the transferor shall be so included as an amount owed by the transferor.