Modifications etc. (not altering text)
C1Sch. 9A applied in part (with modifications) (31.12.2004) by The Insurance Accounts Directive (Lloyd's Syndicate and Aggregate Accounts) Regulations 2004 (S.I. 2004/3219), reg. 3(4)(d), Sch.
Sch. 9A applied in part (31.12.2004) by The Insurance Accounts Directive (Lloyd's Syndicate and Aggregate Accounts) Regulations 2004 (S.I. 2004/3219), reg. 8(4)(5)
Valid from 12/11/2004
29A(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)Except where they fall to be included under Assets item D (assets held to cover linked liabilities), 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 29B, 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.