{
  "url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/schedule-7/paragraph-31B",
  "json_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/schedule-7/paragraph-31B.json",
  "legislation": "uksi/1998/504",
  "legislation_title": "The Building Societies (Accounts and Related Provisions) Regulations 1998",
  "legislation_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998",
  "path": "schedule/7/paragraph/31B",
  "kind": "paragraph",
  "number": "31B",
  "heading": "Methods for determining fair value",
  "text": "(1) The fair value of a financial instrument is its value determined in accordance with this paragraph.\n(2) If a reliable market can readily be identified for the financial instrument, its fair value is to be determined by reference to its market value.\n(3) If a reliable market cannot readily be identified for the financial instrument but can be identified for its components or for a similar instrument, its fair value is to be determined by reference to the market value of its components or of the similar instrument.\n(4) If neither sub-paragraph (2) nor (3) apply, the fair value of the financial instrument is to be a value resulting from generally accepted valuation models and techniques.\n(5) Any valuation models and techniques used for the purposes of sub-paragraph (4) must ensure a reasonable approximation of the market value.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 7 Pt. 6A inserted (31.12.2004 with application in accordance with reg. 1(2) of the amending S.I.) by The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 2004 (S.I. 2004/3199), regs. 1(1), 8(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1998/504/schedule/7/paragraph/31B",
    "retrieved_at": "2026-10-29T11:36:28.086103+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}