Paragraph 15

Where the value of any asset of a society is determined on any basis mentioned in paragraph 14 above that value shall be, or (as the case may require) be the starting point for determining, the amount to be included in respect of that asset in the society’s accounts, instead of its purchase price or any value previously so determined for that asset, and methods for depreciation to be used pursuant to these Regulations shall apply accordingly in relation to any such asset with the substitution for any reference to its purchase price of a reference to the value most recently determined for that asset on any basis mentioned in paragraph 14 above.