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The Companies Act 1985 (Bank Accounts) Regulations 1991

S.I. 1991/2705 · Made 1 December 1991

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COMPANIES

Made 1st December 1991

Coming into force 2nd December 1991

The Secretary of State, in exercise of the powers conferred on him by section 257 of the Companies Act 1985f1 and of all other powers enabling him in that behalf, hereby makes the following Regulations of which a draft has been laid before Parliament in accordance with section 257(2) of that Act and approved by resolution of each House of Parliament:

Annotations to the whole text

Footnotes

f1

1985 c. 6; section 257 was inserted by section 20 of the Companies Act 1989 (1989 c. 40).

Contents

  1. 1Citation and interpretation
  2. 3Amendments of sections
  3. 4Amendments of sections
  4. 5Insertion of new Schedule
  5. 6Other amendments
  6. 7Other amendments
  7. 8Other amendments
  8. 9Transitional provisions
  9. Signature
  10. Schedule 1: AND CONTENT OF ACCOUNTS OF BANKING COMPANIES AND GROUPS
  11. Part I: INDIVIDUAL ACCOUNTS
  12. Chapter 1: GENERAL RULES AND FORMATS
  13. GENERAL RULES
  14. 1Paragraph 1
  15. 2Paragraph 2
  16. 3Paragraph 3
  17. 4Paragraph 4
  18. 5Paragraph 5
  19. 6Paragraph 6
  20. 7Paragraph 7
  21. 8Paragraph 8
  22. THE REQUIRED FORMATS FOR ACCOUNTS
  23. Preliminary
  24. 9Paragraph 9
  25. Balance Sheet FormatASSETS
  26. 1Paragraph 1
  27. 2Paragraph 2
  28. 3Paragraph 3
  29. 4Paragraph 4
  30. 5Paragraph 5
  31. 6Paragraph 6
  32. 7Paragraph 7
  33. 8Paragraph 8
  34. 9Paragraph 9
  35. 10Paragraph 10
  36. 11Paragraph 11
  37. 12Paragraph 12
  38. 13Paragraph 13
  39. 14Paragraph 14
  40. 15Paragraph 15
  41. LIABILITIES
  42. 1Paragraph 1
  43. 2Paragraph 2
  44. 3Paragraph 3
  45. 4Paragraph 4
  46. 5Paragraph 5
  47. 6Paragraph 6
  48. 7Paragraph 7
  49. 8Paragraph 8
  50. 9Paragraph 9
  51. 10Paragraph 10
  52. 11Paragraph 11
  53. 12Paragraph 12
  54. MEMORANDUM ITEMS
  55. 1Paragraph 1
  56. 2Paragraph 2
  57. Notes on the balance sheet format and memorandum items
  58. Special rules
  59. 11Subordinated assets
  60. 12Syndicated loans
  61. 13Sale and repurchase transactions
  62. 14Sale and option to resell transactions
  63. 15Managed funds
  64. Profit and Loss Account FormatsFORMAT 1Vertical layout
  65. 1Paragraph 1
  66. 2Paragraph 2
  67. 3Paragraph 3
  68. 4Paragraph 4
  69. 5Paragraph 5
  70. 6Paragraph 6
  71. 7Paragraph 7
  72. 8Paragraph 8
  73. 9Paragraph 9
  74. 10Paragraph 10
  75. 11Paragraph 11
  76. 12Paragraph 12
  77. 13Paragraph 13
  78. 14Paragraph 14
  79. 15Paragraph 15
  80. 16Paragraph 16
  81. 17Paragraph 17
  82. 18Paragraph 18
  83. 19Paragraph 19
  84. 20Paragraph 20
  85. 21Paragraph 21
  86. 22Paragraph 22
  87. 23Paragraph 23
  88. 24Paragraph 24
  89. FORMAT 2Horizontal layoutA. Charges
  90. 1Paragraph 1
  91. 2Paragraph 2
  92. 3Paragraph 3
  93. 4Paragraph 4
  94. 5Paragraph 5
  95. 6Paragraph 6
  96. 7Paragraph 7
  97. 8Paragraph 8
  98. 9Paragraph 9
  99. 10Paragraph 10
  100. 11Paragraph 11
  101. 12Paragraph 12
  102. 13Paragraph 13
  103. 14Paragraph 14
  104. 15Paragraph 15
  105. 16Paragraph 16
  106. B. Income
  107. 1Paragraph 1
  108. 2Paragraph 2
  109. 3Paragraph 3
  110. 4Paragraph 4
  111. 5Paragraph 5
  112. 6Paragraph 6
  113. 7Paragraph 7
  114. 8Paragraph 8
  115. 9Paragraph 9
  116. 10Paragraph 10
  117. 11Paragraph 11
  118. 12Paragraph 12
  119. Notes on the profit and loss account formats
  120. Chapter II: ACCOUNTING PRINCIPLES AND RULES
  121. ACCOUNTING PRINCIPLES
  122. 16Paragraph 16
  123. Accounting principles
  124. 17Paragraph 17
  125. 18Paragraph 18
  126. 19Paragraph 19
  127. 20Paragraph 20
  128. 21Paragraph 21
  129. Departure from the accounting principles
  130. 22Paragraph 22
  131. VALUATION RULES
  132. Preliminary
  133. 23Paragraph 23
  134. Fixed assets
  135. 24General rules
  136. 25General rules
  137. 26General rules
  138. 27Development costs
  139. 28Goodwill
  140. 29Intangible and tangible fixed assets
  141. 30Other fixed assets
  142. 31Financial fixed assets
  143. Current assets
  144. 32Paragraph 32
  145. 33Paragraph 33
  146. 34Paragraph 34
  147. Miscellaneous and supplementary provisions
  148. 35Excess of money owed over value received as an asset item
  149. 36Determination of cost
  150. 37Determination of cost
  151. 38Substitution of original amount where price or cost unknown
  152. ALTERNATIVE ACCOUNTING RULES
  153. Preliminary
  154. 39Paragraph 39
  155. 40Paragraph 40
  156. Alternative accounting rules
  157. 41Paragraph 41
  158. Application of the depreciation rules
  159. 42Paragraph 42
  160. Additional information to be provided in case of departure from historical cost accounting rules
  161. 43Paragraph 43
  162. Revaluation reserve
  163. 44Paragraph 44
  164. ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES
  165. 45Paragraph 45
  166. 46Paragraph 46
  167. Chapter III: NOTES TO THE ACCOUNTS
  168. Preliminary
  169. 47Paragraph 47
  170. General
  171. 48Disclosure of accounting policies
  172. 49Disclosure of accounting policies
  173. 50Sums denominated in foreign currencies
  174. Information supplementing the balance sheet
  175. 51Share capital and debentures
  176. 52Share capital and debentures
  177. 53Share capital and debentures
  178. 54Share capital and debentures
  179. 55Fixed assets
  180. 56Fixed assets
  181. 57Fixed assets
  182. 58Fixed assets
  183. 59Reserves and provisions
  184. 60Provision for taxation
  185. 61Maturity analysis
  186. 62Debt and other fixed income securities
  187. 63Subordinated liabilities
  188. 64Fixed cumulative dividends
  189. 65Details of assets charged
  190. 66Guarantees and other financial commitments
  191. 67Memorandum items: Group undertakings
  192. 68Transferable securities
  193. 69Leasing transactions
  194. 70Assets and liabilities denominated in a currency other than sterling (or the currency in which the accounts are drawn up)
  195. 71Sundry assets and liabilities
  196. 72Unmatured forward transactions
  197. 73Miscellaneous matters
  198. Information supplementing the profit and loss account
  199. 74Separate statement of certain items of income and expenditure
  200. 75Particulars of tax
  201. 76Particulars of income
  202. 77Particulars of staff
  203. 78Management and agency services
  204. 79Subordinated liabilities
  205. 80Sundry income and charges
  206. 81Miscellaneous matters
  207. Chapter IV: INTERPRETATION OF PART I
  208. 82General
  209. 83Loans
  210. 84Materiality
  211. 85Provisions
  212. 86Scots land tenure
  213. 87Staff costs
  214. Part II: CONSOLIDATED ACCOUNTS
  215. 1Undertakings to be included in consolidation
  216. 2General application of provisions applicable to individual accounts
  217. 3Minority interests and associated undertakings
  218. 4Minority interests and associated undertakings
  219. 5Foreign currency translation
  220. 6Foreign currency translation
  221. 7Information as to undertaking in which shares held as a result of financial assistance operation
  222. Part III: ADDITIONAL DISCLOSURE: RELATED UNDERTAKINGS
  223. 1Paragraph 1
  224. Schedule 2: FURTHER AMENDMENTS TO PART VII OF THE 1985 ACT
  225. 1Paragraph 1
  226. 2Paragraph 2
  227. 3Paragraph 3
  228. 4Paragraph 4
  229. 5Paragraph 5
  230. Schedule 3: (CONSEQUENTIAL) AMENDMENTS OF THE COMPANIES ACT 1985
  231. 1Paragraph 1
  232. 2Paragraph 2
  233. Explanatory note