SCHEDULES
SCHEDULE 9AForm and Content of Accounts of Insurance Companies and Groups
PART 1INDIVIDUAL ACCOUNTS
Miscellaneous and supplemental
Excess of money owed over value received as an asset item37
1
Where the amount repayable on any debt owned by a company is greater than the value of the consideration received in the transaction giving rise to the debt, the amount of the difference may be treated as an asset.
2
Where any such amount is so treated—
a
it shall be written off by reasonable amounts each year and must be completely written off before repayment of the debt; and
b
if the current amount is not shown as a separate item in the company's balance sheet it must be disclosed in a note to the accounts.