Companies (1986 Order) (Bank Accounts) Regulations (Northern Ireland) 1992

2. Introductory Text

1. Citation and commencement

3. 2. Interpretation

4. 3. Amendments of Articles

5. 4. Article 263C of the 1986 Order is amended:

6. 5. Insertion of new Schedule into the 1986 Order

7. 6. Other amendments of the 1986 Order

8. 7. The 1986 Order shall be further amended in accordance with...

9. 8. Amendment to the Housing (Northern Ireland) Order 1981

10. 9. Transitional provisions

11. Signature

12. 1. SCHEDULE 1

       Form and Content of Accounts of Banking Companies and Groups

       1. Part I Individual Accounts

          1. CHAPTER I GENERAL RULES AND FORMATS

             1. SECTION A

                GENERAL RULES

                1. 1. (1) Subject to the following provisions of this Part:

                2. 2. (1) Where in accordance with paragraph 1 a company’s profit...

                3. 3. (1) Any item required in accordance with paragraph 1 to...

                4. 4. (1) In respect of every item shown in the balance...

                5. 5. (1) Subject to the following provisions of this paragraph and...

                6. 6. (1) Assets shall be shown under the relevant balance sheet...

                7. 7. Assets acquired in the name of and on behalf of...

                8. 8. Every profit and loss account of a company shall show...

       2. SECTION B THE REQUIRED FORMATS FOR ACCOUNTS

          1. Preliminary

             1. 9. (1) References in this Part to the balance sheet format...

             2. 10. A number in brackets following any item in any of...

          2. Balance Sheet Format

             1. 1. ASSETS

             2. 2. Treasury bills and other eligible bills (20)

             3. 3. Loans and advances to banks (4), (20)

             4. 4. Loans and advances to customers (5), (20)

             5. 5. Debt securities [and other fixed income securities] (6), (20)

             6. 6. Equity shares [and other variable-yield securities]

             7. 7. Participating interests

             8. 8. Shares in group undertakings

             9. 9. Intangible fixed assets (7)

             10. 10. Tangible fixed assets (8)

             11. 11. Called up capital not paid (9)

             12. 12. Own Shares (10)

             13. 13. Other assets

             14. 14. Called up capital not paid (9)

             15. 15. Prepayments and accrued income Total assets

             16. 1. LIABILITIES

             17. 2. Customer accounts (12), (20) (a) Repayable on demand

             18. 3. Debt securities in issue (13), (20) (a) Bonds and medium...

             19. 4. Other liabilities

             20. 5. Accruals and deferred income

             21. 6. Provisions for liabilities and charges (a) Provisions for pensions and...

             22. 7. Subordinated liabilities (14), (20)

             23. 8. Called up share capital (15)

             24. 9. Share premium account

             25. 10. Reserves (a) Capital redemption reserve (b) Reserve for own shares...

             26. 11. Revaluation reserve

             27. 12. Profit and loss account Total liabilities

             28. 1. MEMORANDUM ITEMS

             29. 2. Commitments (18) (1) Commitments arising out of sale and option...

          3. Notes on the balance sheet format and memorandum items

             1. (1) Cash and balances at central [or post office] banks

             2. Cash shall comprise all currency including foreign notes and coins....

             3. Only those balances which may be withdrawn without notice and...

             4. (2) Treasury bills and other eligible bills: Treasury bills and similar securities

             5. Treasury bills and similar securities shall comprise treasury bills and...

             6. (3) Treasury bills and other eligible bills: Other eligible bills

             7. Other eligible bills shall comprise all bills purchased to the...

             8. (4) Loans and advances to banks

             9. Loans and advances to banks shall comprise all loans and...

             10. (5) Loans and advances to customers

             11. Loans and advances to customers shall comprise all types of...

             12. (6) Debt securities [and other fixed income securities]

             13. This item shall comprise transferable debt securities and any other...

             14. Where a company holds its own debt securities these shall...

             15. Securities bearing interest rates that vary in accordance with specific...

             16. (7) Intangible fixed assets

             17. This item shall comprise: (a) development costs;

             18. Amounts shall, however, be included in respect of (b) only...

             19. Amounts representing goodwill shall only be included to the extent...

             20. There shall be disclosed, in a note to the accounts,...

             21. (8) Tangible fixed assets

             22. This item shall comprise: land and buildings; plant and machinery;...

             23. There shall be disclosed in a note to the accounts...

             24. (9) Called up capital not paid

             25. The two positions shown for this item are alternatives.

             26. (10) Own shares

             27. The nominal value of the shares held shall be shown...

             28. (11) Deposits by banks

             29. Deposits by banks shall comprise all amounts arising out of...

             30. (12) Customer accounts

             31. This item shall comprise all amounts owed to creditors that...

             32. (13) Debt securities in issue

             33. This item shall include both debt securities and debts for...

             34. (14) Subordinated liabilities

             35. This item shall comprise all liabilities in respect of which...

             36. (15) Called up share capital

             37. The amount of allotted share capital and the amount of...

             38. (16) Contingent liabilities

             39. This item shall include all transactions whereby the company has...

             40. Liabilities arising out of the endorsement of rediscounted bills shall...

             41. (17) Contingent liabilities: Guarantees and assets pledged as collateral security

             42. This item shall include all guarantee obligations incurred and assets...

             43. (18) Commitments

             44. This item shall include every irrevocable commitment which could give...

             45. (19) Commitments: Commitments arising out of sale and option to resell transactions

             46. This sub-item shall comprise commitments entered into by the company...

             47. (20) Claims on, and liabilities to, undertakings in which a participating interest is held or group undertakings

             48. The following information must be given either by way of...

             49. The amount of the following must be shown for each...

             50. The amount of the following must be shown for each...

             51. Special Rules

             52. 11. Subordinated assets

             53. 12. Syndicated loans

             54. 13. Sale and repurchase transactions

             55. 14. Sale and option to resell transactions

             56. 15. Managed funds

       3. 1. FORMAT 1

             1. 1. Vertical layout

             2. 2. Interest payable (2)

             3. 3. Dividend income (a) Income from equity shares [and other variable-yield...

             4. 4. Fees and commissions receivable (3)

             5. 5. Fees and commissions payable (4)

             6. 6. Dealing [profits] [losses] (5)

             7. 7. Other operating income

             8. 8. Administrative expenses (a) Staff costs (i) Wages and salaries

             9. 9. Depreciation and amortisation (6)

             10. 10. Other operating charges

             11. 11. Provisions (a) Provisions for bad and doubtful debts (7)

             12. 12. Adjustments to provisions (a) Adjustments to provisions for bad and...

             13. 13. Amounts written off fixed asset investments (11)

             14. 14. Adjustments to amounts written off fixed asset investments (12)

             15. 15. [Profit] [loss] on ordinary activities before tax

             16. 16. Tax on [profit] [loss] on ordinary activities

             17. 17. [Profit] [loss] on ordinary activities after tax

             18. 18. Extraordinary income

             19. 19. Extraordinary charges

             20. 20. Extraordinary [profit] [loss]

             21. 21. Tax on extraordinary [profit] [loss]

             22. 22. Extraordinary [profit] [loss] after tax

             23. 23. Other taxes not shown under the preceding items

             24. 24. [Profit] [loss] for the financial year

          2. FORMAT 2

             1. A. Horizontal layout

             2. 1. Interest payable (2)

             3. 2. Fees and commissions payable (4)

             4. 3. Dealing losses (5)

             5. 4. Administrative expenses (a) Staff costs (i) Wages and salaries

             6. 5. Depreciation and amortisation (6)

             7. 6. Other operating charges

             8. 7. Provisions (a) Provisions for bad and doubtful debts (7)

             9. 8. Amounts written off fixed asset investments (11)

             10. 9. Profit on ordinary activities before tax

             11. 10. Tax on [profit] [loss] on ordinary activities

             12. 11. Profit on ordinary activities after tax

             13. 12. Extraordinary charges

             14. 13. Tax on extraordinary [profit] [loss]

             15. 14. Extraordinary loss after tax

             16. 15. Other taxes not shown under the preceding items

             17. 16. Profit for the financial year

             18. B. Income

             19. 1. Interest receivable (1) (1) Interest receivable and similar income arising...

             20. 2. Dividend income (a) Income from equity shares [and other variable-yield...

             21. 3. Fees and commissions receivable (3)

             22. 4. Dealing profits (5)

             23. 5. Adjustments to provisions (a) Adjustments to provisions for bad and...

             24. 6. Adjustments to amounts written off fixed asset investments (12)

             25. 7. Other operating income

             26. 8. Loss on ordinary activities before tax

             27. 9. Loss on ordinary activities after tax

             28. 10. Extraordinary income

             29. 11. Extraordinary profit after tax

             30. 12. Loss for the financial year

          3. Notes on the profit and loss account formats

             1. (1) Interest receivable

             2. This item shall include all income arising out of banking...

             3. (2) Interest payable

             4. This item shall include all expenditure arising out of banking...

             5. (3) Fees and commissions receivable

             6. Fees and commissions receivable shall comprise income in respect of...

             7. In particular the following fees and commissions receivable must be...

             8. (4) Fees and commissions payable

             9. Fees and commissions payable shall comprise charges for all services...

             10. In particular the following fees and commissions payable must be...

             11. (5) Dealing [profits] [losses]

             12. This item shall comprise: (a) the net profit or net...

             13. (6) Depreciation and amortisation

             14. This item shall comprise depreciation and other amounts written off...

             15. (7) Provisions: Provisions for bad and doubtful debts

             16. Provisions for bad and doubtful debts shall comprise charges for...

             17. (8) Provisions: Provisions for contingent liabilities and commitments

             18. This item shall comprise charges for provisions for contingent liabilities...

             19. (9) Adjustments to provisions: Adjustments to provisions for bad and doubtful debts

             20. This item shall include credits from the recovery of loans...

             21. (10) Adjustments to provisions: Adjustments to provisions for contingent liabilities and commitments

             22. This item comprises credits from the reduction of provisions previously...

             23. (11) Amounts written off fixed asset investments

             24. Amounts written off fixed asset investments shall comprise amounts written...

             25. (12) Adjustments to amounts written off fixed asset investments

             26. Adjustments to amounts written off fixed asset investments shall include...

       4. CHAPTER II Accounting Principles and Rules

          1. SECTION A

             Accounting Principles

             1. 16. Subject to paragraph 22, the amounts to be included in...

          2. Accounting principles

             1. 17. The company shall be presumed to be carrying on business...

             2. 18. Accounting policies shall be applied consistently within the same accounts...

             3. 19. The amount of any item shall be determined on a...

             4. 20. All income and charges relating to the financial year to...

             5. 21. In determining the aggregate amount of any item the amount...

          3. Departure from the accounting principles

             1. 22. If it appears to the directors of a company that...

       5. SECTION B Valuation Rules

          1. Historical Cost Accounting Rules

             Preliminary

             1. 23. Subject to paragraphs 39 to 44, the amounts to be...

          2. Fixed assets

             1. 24. General rules

             2. 25. In the case of any fixed asset which has a...

             3. 26. (1) Where a fixed asset investment of a description falling...

             4. 27. Development costs

             5. 28. Goodwill

             6. 29. Intangible and tangible fixed assets

             7. 30. Other fixed assets

             8. 31. Financial fixed assets

          3. Current Assets

             1. 32. The amount to be included in respect of loans and...

             2. 33. (1) If the net realisable value of any asset referred...

             3. 34. (1) Subject to paragraph 33, the amount to be included...

          4. Miscellaneous and supplementary provisions

             1. 35. Excess of money owed over value received as an asset item

             2. 36. Determination of cost

             3. 37. (1) Subject to the qualification mentioned below, the cost of...

             4. 38. Substitution of original amount where price or cost unknown

       6. Alternative Accounting Rules

          1. Preliminary

             1. 39. (1) The rules set out in paragraphs 24 to 38...

             2. 40. Subject to paragraphs 42 to 44, the amounts to be...

          2. Alternative accounting rules

             1. 41. (1) Intangible fixed assets, other than goodwill, may be included...

          3. Application of the depreciation rules

             1. 42. (1) Where the value of any asset of a company...

          4. Additional information to be provided in case of departure fromhistorical cost accounting rules

             1. 43. (1) This paragraph applies where the amounts to be included...

          5. Revaluation reserve

             1. 44. (1) With respect to any determination of the value of...

          6. Assets and Liabilities Denominated in Foreign Currencies

             1. 45. (1) Subject to the following sub-paragraphs, amounts to be included...

             2. 46. (1) Subject to sub-paragraph (2), any difference between the amount...

       7. CHAPTER III Notes to the Accounts

          1. Preliminary

             1. 47. (1) Any information required in the case of a company...

          2. General

             1. 48. Disclosure of accounting policies

             2. 49. It shall be stated whether the accounts have been prepared...

             3. 50. Sums denominated in foreign currencies

          3. Information supplementing the balance sheet

             1. 51. Share capital and debentures

             2. 52. If the company has allotted any shares during the financial...

             3. 53. (1) With respect to any contingent right to the allotment...

             4. 54. (1) If the company has issued any debentures during the...

             5. 55. Fixed assets

             6. 56. Where any fixed assets of the company (other than listed...

             7. 57. In relation to any amount which is included under Assets...

             8. 58. There shall be disclosed separately the amount of:

             9. 59. Reserves and provisions

             10. 60. Provision for taxation

             11. 61. Maturity analysis

             12. 62. Debt and other fixed income securities

             13. 63. Subordinated liabilities

             14. 64. Fixed cumulative dividends

             15. 65. Details of assets charged

             16. 66. Guarantees and other financial commitments

             17. 67. Memorandum items: Group undertakings

             18. 68. Transferable securities

             19. 69. Leasing transactions

             20. 70. Assets and liabilities denominated in a currency other than sterling (or the currency in which the accounts are drawn up)

             21. 71. Sundry assets and liabilities

             22. 72. Unmatured forward transactions

             23. 73. Miscellaneous matters

          4. Information supplementing the profit and loss account

             1. 74. Separate statement of certain items of income and expenditure

             2. 75. Particulars of tax

             3. 76. Particulars of income

             4. 77. Particulars of staff

             5. 78. Management and agency services

             6. 79. Subordinated liabilities

             7. 80. Sundry income and charges

             8. 81. Miscellaneous matters

       8. CHAPTER IV Interpretation of Part I

          1. 82. General

          2. 83. Loans

          3. 84. Materiality

          4. 85. Provisions

          5. 86. Staff costs

       9. PART II CONSOLIDATED ACCOUNTS

          1. 1. Undertakings to be included in consolidation

          2. 2. General application of provisions applicable to individual accounts

          3. 3. Minority interests and associated undertakings

          4. 4. Paragraphs 18 and 22(1) of Schedule 4A shall apply as...

          5. 5. Foreign currency translation

          6. 6. Any income and expenditure of undertakings included in the consolidation...

          7. 7. Information as to undertaking in which shares held as a result of financial assistance operation

       10. PART III ADDITIONAL DISCLOSURE: RELATED UNDERTAKINGS

           1. 1. (1) Where accounts are prepared in accordance with the special...

    2. SCHEDULE 2

       Further Amendments to Part VIII of the 1986 Order

       1. 1. Article 262(3) of the 1986 Order is amended by the...

       2. 2. Article 268(6) of the 1986 Order is amended by the...

       3. 3. The index of defined expressions set out in Article 270A...

       4. 4. Parts I and II of Schedule 9 to the 1986...

       5. 5. Schedule 10 to the 1986 Order (Directors' Report where Accounts...

    3. SCHEDULE 3

       Further (Consequential) Amendments of the 1986 Order

       1. 1. (1) Schedule 11 (Modifications of Part IX where Company’s Accounts...

       2. 2. In Schedule 21 (provisions applying to unregistered companies), in the...

13. Explanatory Note