# The Companies Act 1985 (Bank Accounts) Regulations 1991, Paragraph 25: General rules


In the case of any fixed asset which has a limited useful economic life, the amount of:
(a) its cost; or
(b) where it is estimated that any such asset will have a residual value at the end of the period of its useful economic life, its cost less that estimated residual value;
shall be reduced by provisions for depreciation calculated to write off that amount systematically over the period of the asset’s useful economic life.

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Source: https://www.legislation.gov.uk/uksi/1991/2705/schedule/1/paragraph/25 (the official version)
Page: https://openlegislation.uk/companies-act-1985-bank-accounts-regulations-1991/schedule-1/paragraph-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.