SCHEDULES

F1F1SCHEDULE 9

Annotations:
Amendments (Textual)
F1

Sch. 9 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12); Sch. 9 para. 3(4)(5) and certain words in Sch. 9 para. 3(3)(a) are expressed to be repealed (6.4.2008 with effect as stated in Sch. 1 para. 91(2) of the amending S.I.) by S.I. 2008/948, arts. 2(1), 3, Sch. 1 para. 90(1), Sch. 2 (with arts. 6, 11, 12)

F2C1C2PART I INDIVIDUAL ACCOUNTS

Annotations:
Amendments (Textual)
Modifications etc. (not altering text)
C1

Sch. 9 Pt. I modified (coming into force in accordance with s. 3 of the amending Act) by 1999 c. iv, ss. 3, 7(6)

CHAPTER II ACCOUNTING PRINCIPLES AND RULES

FAIR VALUE ACCOUNTING

Inclusion of financial instruments at fair value

44A

1

Subject to sub-paragraphs (2) to (4), financial instruments (including derivatives) may be included at fair value.

2

Sub-paragraph (1) does not apply to financial instruments which constitute liabilities unless–

a

they are held as part of a trading portfolio, or

b

they are derivatives.

3

Sub-paragraph (1) does not apply to–

a

financial instruments (other than derivatives) held to maturity;

b

loans and receivables originated by the company and not held for trading purposes;

c

interests in subsidiary undertakings, associated undertakings and joint ventures;

d

equity instruments issued by the company;

e

contracts for contingent consideration in a business combination;

f

other financial instruments with such special characteristics that the instruments, according to generally accepted accounting principles or practice, should be accounted for differently from other financial instruments.

4

If the fair value of a financial instrument cannot be determined reliably in accordance with paragraph 44B, sub-paragraph (1) does not apply to that financial instrument.

5

In this paragraph–

  • associated undertaking” has the meaning given by paragraph 20 of Schedule 4A; and

  • joint venture” has the meaning given by paragraph 19 of that Schedule.