OpenLegislation

The Companies (Northern Ireland) Order 1986 (revoked)

1986/1032 · Made 23 June 1986 · Extends to Northern Ireland

Not fully up to date. 3 changes made by later legislation have not yet been written into this text, which is revised to 1 October 2009.

See the changes not yet applied
ProvisionChangeMade by
art.266appliedFinance Act 1997 s.82, Sch.12, Pt.IV, para.28(6)(b)
art.270(1)appliedFinance Act 1997 s.82, Sch.12, Pt.IV, para.30(1)
art.156(1)amendedBuilding Societies (Distributions) Act 1997 s.1(1) (adding 1986 c.53, SS.102B- 102D)

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .C1

Annotations to the whole text

Textual amendments

F1

Order revoked (1.1.2007 for the revocation of arts. 39(4), 52, 656A(1), 658, 660, 20.1.2007 for the revocation of arts. 206-228, 246(4A)-(4E), 247(2A)(2B), 259(2A)-(2E), 261(2A), 270 and 270A (for specified purposes), 374A(3A)(6), 377(5)-(11), 380(2A)(2B)(6A), 387A(2B)-(2F)(6), 6.4.2007 for the revocation of arts. 51, 301, 302, 319, 331-337, 351, 352, 432(2)(8) (for specified purposes), 432(3)(7), 446(2)(b), 669, 677, Sch. 13 Pts. 2-4, Sch. 22, 6.4.2007 for the revocation of arts. 2 (for specified purposes), 421-423F, Sch. 7 paras. 2, 2A, 2B, 1.10.2007 for the revocation of arts. 9, 135(6), 242(1) (for specified purposes), 242ZZB, 249 (for specified purposes), 254(4)(a) (for specified purposes), 254A(2A), 260, 261, 290, 293, 300, 311, 312, 317, 318 (for specified purposes), 320-324, 326-330, 330B, 338-355, 364, 365 (for specified purposes), 374-387, 387A91)(b)-(e), 388(1)(4)(a)(c)-(m), 389-391, 392 and 393 (for specified purposes), 393A, 394, 395-396A (for specified purposes), 401, 451-454, Sch. 13 Pt. 1, Sch. 15A, Sch. 23 (for specified purposes), 6.4.2008 for the revocation of art. 2 (for specified purposes), 10A-10C, 46A(2)(4)-(6), 46A93) (for specified purposes), 68, 91, 127, 128, 192(1)(b), 193-205, 229-242ZZA, 242ZA-259, 262-289, 291, 292, 294, 318, 360(6)(7), 388(4)(b), 392, 393, 395-396A, 397A-400A, 401A, 401B, 418-420A, 680-680B, Schs. 4-11, 15B, 23 (for specified purposes), 1.10.2008 for the revocation of arts. 161-163 and 165-168 (for specified purposes), 313, 325, 356, 357, 359, 675, Sch. 23 (for specified purposes) and 1.10.2009 in so far as not already in force) by Companies Act 2006 (c. 46), ss. 1284(2), 1300(2), Sch. 16; S.I. 2006/3428, art. 2(2)(h), 3(2)(e), 4(2), 7(a)(b)(c), Sch. 1 Pt. 2, Sch. 3 Pt. 2, Sch. 4 Pt. 2 (with arts. 6, 8(2), Sch. 1 paras. 7, 8, 15, Sch. 5 Pt. 2 (which transitional provisions in Sch. 1 are revoked (1.10.2009) by S.I. 2008/2860, arts. 1(2), 6(1)(a) (with arts. 5, 8, Sch. 2)); S.I. 2007/1093, art. 5, Sch. 2 Pt. 2 (with arts. 4, 11(1), Sch. 6 paras. 1, 5); S.I. 2007/2194, arts. 2(4), 8, Sch. 2 Pt. 2 (with arts. 7, 12(2), Sch. 3) (as amended: (30.9.2007) by S.I. 2007/2607, arts. 1, 4(2)(3); (31.12.2007) by S.I. 2007/3495, arts. 2(6)(a), 11, Sch. 5 para. 2(6); and (14.1.2008) by S.I. 2007/3495, arts. 2(6)(b), 11, Sch. 5 para. 2(2)(7) (as itself amended (6.4.2008) by S.I. 2008/674, arts. 2(3), 5, Sch. 3 para. 7)); S.I. 2007/3495, art. 5(2), 8(a)(b), Sch. 2 Pt. 2, Sch. 3 Pt. 2 (with arts. 7, 9, 12, Sch. 4) (as amended (6.4.2008) by S.I. 2008/674, arts. 2(3), 5, Sch. 3 para. 6); S.I. 2008/2860, art. 3(z), 4, Sch. 2 Pt. 2 (with arts. 7, 8, 63(5), Sch. 2 paras. 1, 114 (which transitional provisions in Sch. 2 are amended (1.10.2009) by S.I. 2009/2476, arts. 1(3), 2(3)(4) and by S.I. 2009/1802, arts. 1, 18, Sch.)) (as amended (1.10.2009) by S.I. 2009/1941, arts. 1(2), 13); and with further savings and transitional provisions (1.10.2009) in S.I. 2009/1801, reg. 1(2), Sch. 8 and S.I. 2009/1804, reg. 2(3), Schs. 1, 2

Modifications

C1

Order, in so far as still in operation, applied (with modifications) (8.2.2011) by The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), reg. 27(a), Sch. 6 Pt. 1; and arts. 17(3), 36(3) applied (with modifications) (24.6.2013) by Charities Act (Northern Ireland) 2008 (c. 12 (N.I.)), ss. 20(7), 96(6), 185(1); S.R. 2013/145, art. 2, Sch.

Contents

  1. Part I: INTRODUCTORY AND INTERPRETATION
  2. 1Title and commencement
  3. 2General interpretation
  4. 2A{prosp. insertion of 2nd art. 2A by 1990 NI10} Repealed
  5. 2ARelationship of this Order to Insolvency Order
  6. 2BRelationship of this Order to Parts IV and V of the Financial Services Act 1986
  7. 3“Company”, etc.
  8. 4“ Subsidiary ”, “ holding company ” and “ wholly-owned subsidiary ”
  9. 4AProvisions supplementing Article 4
  10. 4BPower to amend Articles 4 and 4A
  11. 5“Called-up share capital”
  12. 6“Allotment” and “paid up”
  13. 7“Non-cash asset”
  14. 8“Body corporate” and “corporation”
  15. 9“Director” and “shadow director” Repealed
  16. 10Expressions used in connection with accounts
  17. 10AMeaning of “offer to the public” Repealed
  18. 10BMeaning of “banking company” Repealed
  19. 10CMeaning of “insurance company” and “authorised insurance company” Repealed
  20. 11“Employees' share scheme”
  21. Part II: FORMATION AND REGISTRATION OF COMPANIES; JURIDICAL STATUS AND MEMBERSHIP
  22. Chapter I: COMPANY FORMATION
  23. Memorandum of association
  24. 12Mode of forming incorporated company
  25. 13Requirements with respect to memorandum
  26. 14Forms of memorandum
  27. 14AStatement of company's objects: general commercial company
  28. 15Resolution to alter objects
  29. 16Procedure for objecting to alteration
  30. 17Provisions supplementing Articles 15 and 16
  31. Articles of association
  32. 18Regulation of companies by articles of association
  33. 19Tables A, C, D and E
  34. 19A{prosp. insertion of art. 19A by 1990 NI10} Repealed
  35. 20Alteration of articles by special resolution
  36. Registration and its consequences
  37. 21Documents to be sent to registrar
  38. 22Minimum authorised capital (public companies)
  39. 23Duty of registrar
  40. 24Effect of registration
  41. 25Effect of memorandum and articles
  42. 26Memorandum and articles of company limited by guarantee
  43. 27Effect of alteration on company's members
  44. 28Conditions in memorandum which could have been in articles
  45. 29Amendments of memorandum or articles to be recorded
  46. 30Copies of memorandum and articles to be given to members
  47. 31Issued copy of memorandum to embody alterations
  48. A company's membership
  49. 32Definition of “member”
  50. 33Membership of holding company
  51. 34Minimum membership for carrying on business
  52. Chapter II: COMPANY NAMES
  53. 35Name as stated in memorandum
  54. 36Prohibition on registration of certain names
  55. 37Alternatives of statutory designations
  56. 38Change of name
  57. 39Regulations about names
  58. 40Exemption from requirement of “limited” as part of the name
  59. 41Provisions applying to company exempt under Article 40
  60. 42Power to require company to abandon misleading name
  61. 43Prohibition on trading under misleading name
  62. 44Penalty for improper use of “limited”
  63. 44APenalty for improper use of “community interest company”
  64. 4A{prosp. insertion of art. 44A by 2005 NI17} Repealed
  65. Chapter III: A COMPANY'S CAPACITY; FORMALITIES OF CARRYING ON BUSINESS
  66. 45A company's capacity not limited by its memorandum
  67. 45APower of directors to bind the company
  68. 45BNo duty to enquire as to capacity of company or authority of directors
  69. 46Form of company contracts
  70. 46AExecution of documents
  71. 46BPre-incorporation contracts and deeds
  72. 47Bills of exchange and promissory notes
  73. 48Execution of deeds abroad
  74. 49Power of company to have official seal for use abroad
  75. 50Official seal for share certificates, etc.
  76. 51Authentication of documents Repealed
  77. 52Events affecting a company's status Repealed
  78. Part III: RE-REGISTRATION AS A MEANS OF ALTERING A COMPANY'S STATUS
  79. Private company becoming public
  80. 53Re-registration of private company as public
  81. 54Consideration for shares recently allotted to be valued
  82. 55Additional requirements relating to share capital
  83. 56Meaning of “unqualified report” in Article 53(3)
  84. 57Certificate of re-registration under Article 53
  85. 58Modification for unlimited company re-registering
  86. Limited company becoming unlimited
  87. 59Re-registration of limited company as unlimited
  88. 60Certificate of re-registration under Article 59
  89. Unlimited company becoming limited
  90. 61Re-registration of unlimited company as limited
  91. 62Certificate of re-registration under Article 61
  92. Public company becoming private
  93. 63Re-registration of public company as private
  94. 64Litigation objection to resolution under Article 63
  95. 65Certificate of re-registration under Article 63
  96. Part IV: CAPITAL ISSUES
  97. Chapter I: ISSUES BY COMPANIES REGISTERED, OR TO BE REGISTERED, IN NORTHERN IRELAND
  98. The prospectus
  99. 66Matters to be stated, and reports to be set out, in prospectus
  100. 67Attempted evasion of Article 66 to be void
  101. 68Document offering shares, etc. for sale deemed a prospectus Repealed
  102. 71Prospectus containing statement by expert
  103. 72Meaning of “expert”
  104. 73Prospectus to be dated
  105. Registration of prospectus
  106. 74Registration requirement applicable in all cases
  107. 75Additional requirements in case of prospectus issued generally
  108. Liabilities and offences in connection with prospectus
  109. 76Directors, etc. exempt from liability in certain cases
  110. 77Compensation for subscribers misled by statement in prospectus
  111. 78Exemption from Article 77 for those acting with propriety
  112. 79Indemnity for innocent director or expert
  113. 80Criminal liability for untrue statements
  114. Supplementary
  115. 81Interpretation for Articles 66 to 80
  116. Chapter II: ISSUES BY COMPANIES INCORPORATED, OR TO BE INCORPORATED, OUTSIDE THE UNITED KINGDOM
  117. 82Prospectus of non-United Kingdom company
  118. 83Attempted evasion of Article 82 to be void
  119. 84Prospectus containing statement by expert
  120. 85Restrictions on allotment to be secured in prospectus
  121. 86Stock exchange certificate exempting from compliance with Schedule 3
  122. 87Registration of prospectus before issue
  123. 88Consequences (criminal and civil) of contravention of Articles 82 to 87
  124. 89Supplementary
  125. Part V: ALLOTMENT OF SHARES AND DEBENTURES
  126. General provisions as to allotment
  127. 90Authority of company required for certain allotments
  128. 90AElection by private company as to duration of authority
  129. 91Restriction on public offers by private company Repealed
  130. 92Application for, and allotment of, shares and debentures
  131. 93No allotment unless minimum subscription received
  132. 94Allotment where issue not fully subscribed
  133. 95Effect of irregular allotment
  134. 96Allotment of shares, etc. to be listed on a stock exchange
  135. 97Operation of Article 96 where prospectus offers shares for sale
  136. 98Return as to allotments, etc.
  137. Pre-emption rights
  138. 99Offers to shareholders to be on pre-emptive basis
  139. 100Communication of pre-emption offers to shareholders
  140. 101Exclusion of Articles 99 and 100 by private company
  141. 102Consequences of contravening Articles 99 and 100
  142. 103Saving for other restrictions as to offers
  143. 104Interpretation for Articles 99 to 106
  144. 105Disapplication of pre-emption rights
  145. 106Saving for company's pre-emption procedure operative before 1985
  146. Commissions and discounts
  147. 107Power of company to pay commissions
  148. 108Apart from Article 107, commissions and discounts barred
  149. Amount to be paid for shares; the means of payment
  150. 109General rules as to payment for shares on allotment
  151. 110Prohibition on allotment of shares at a discount
  152. 111Shares to be allotted as at least one-quarter paid-up
  153. 112Restriction on payment by long-term undertaking
  154. 113Non-cash consideration to be valued before allotment
  155. 114Transfer to public company of non-cash asset in initial period
  156. 115Agreements contravening Article 114
  157. 116Shares issued to subscribers of memorandum
  158. 117Meaning of “the appropriate rate”
  159. Valuation provisions
  160. 118Valuation and report (Articles 54 and 113)
  161. 119Valuation and report (Article 114)
  162. 120Entitlement of valuer to full disclosure
  163. 121Matters to be communicated to registrar
  164. Other matters arising out of allotment, etc.
  165. 121ARight to damages, etc. not affected
  166. 122Liability of subsequent holders of shares allotted
  167. 123Relief in respect of certain liabilities under Articles 109ff.
  168. 124Penalty for contravention
  169. 125Undertakings to do work, etc.
  170. 126Application of Articles 109ff. to special cases
  171. Part VI: SHARE CAPITAL, ITS INCREASE, MAINTENANCE AND REDUCTION
  172. Chapter I: GENERAL PROVISIONS ABOUT SHARE CAPITAL
  173. 127Public company share capital requirements Repealed
  174. 128The authorised minimum Repealed
  175. 129Provision for different amounts to be paid on shares
  176. 130Reserve liability of limited company
  177. 131Alteration of share capital (limited companies)
  178. 132Notice to registrar of alteration
  179. 133Notice to registrar of increased share capital
  180. 134Reserve capital of unlimited company
  181. Chapter II: CLASS RIGHTS
  182. 135Variation of class rights
  183. 136Saving for court's powers under other provisions
  184. 137Shareholders' right to object to variation
  185. 138Registration of particulars of special rights
  186. 139Registration of newly created class rights
  187. Chapter III: SHARE PREMIUMS
  188. 140Appication of share premiums
  189. 141Merger relief
  190. 142Relief in respect of group reconstructions
  191. 143Provisions supplementing Articles 141 and 142
  192. 144Provision for extending or restricting relief from Article 140
  193. Chapter IV: REDUCTION OF SHARE CAPITAL
  194. 145Special resolution for reduction of share capital
  195. 146Application to court for order of confirmation
  196. 147Court order confirming reduction
  197. 148Registration of order and minute of reduction
  198. 149Public company reducing capital below authorised minimum
  199. 150Liability of members on reduced shares
  200. 151Penalty for concealing name of creditor, etc.
  201. Chapter V: MAINTENANCE OF CAPITAL
  202. 152Duty of directors on serious loss of capital
  203. 153General rule against company acquiring own shares
  204. 154Acquisition of shares by company's nominee
  205. 155Exceptions from Article 154
  206. 156Treatment of shares held by or for public company
  207. 157Matters arising out of compliance with Article 156(2)
  208. 158Further provisions supplementing Articles 156 and 157
  209. 159Sanctions for non-compliance
  210. 160Charges of public companies on own shares
  211. Chapter VI: FINANCIAL ASSISTANCE BY A COMPANY FOR ACQUISITION OF ITS OWN SHARES
  212. Provisions applying to both public and private companies
  213. 161Financial assistance generally prohibited
  214. 162Interpretation for this Chapter
  215. 163Transactions not prohibited by Article 161
  216. 164Special restriction for public companies
  217. Private companies
  218. 165Relaxation of Article 161 for private companies
  219. 166Statutory declaration under Article 165
  220. 167Special resolution under Article 165
  221. 168Time for giving financial assistance under Article 165
  222. Chapter VII: REDEEMABLE SHARES; PURCHASE BY A COMPANY OF ITS OWN SHARES
  223. Redemption and purchase generally
  224. 169Power to issue redeemable shares
  225. 169A{prosp. insertion of art. 169A by 1990 NI10} Repealed
  226. 170Financing, etc. of redemption
  227. 172Power of company to purchase own shares
  228. 172ATreasury shares
  229. 172BTreasury shares: maximum holdings
  230. 172CTreasury shares: voting and other rights
  231. 172DTreasury shares: disposal and cancellation
  232. 172ETreasury shares: mandatory cancellation
  233. 172FTreasury shares: proceeds of sale
  234. 172GTreasury shares: penalty for contravention
  235. 173Definitions of “off-market” and “market” purchase
  236. 174Authority for off-market purchase
  237. 175Authority for contingent purchase contract
  238. 176Authority for market purchase
  239. 177Assignment or release of company's right to purchase own shares
  240. 178Payments apart from purchase price to be made out of distributable profits
  241. 179Disclosure by company of purchase of own shares
  242. 179ADisclosure by company of cancellation or disposal of treasury shares
  243. 180The capital redemption reserve
  244. Redemption or purchase of own shares out of capital (private companies only)
  245. 181Power of private companies to redeem or purchase own shares out of capital
  246. 182Availability of profits for the purposes of Article 181
  247. 183Conditions for payment out of capital
  248. 184Procedure for special resolution under Article 183
  249. 185Publicity for proposed payment out of capital
  250. 186Objections by company's members or creditors
  251. 187Powers of court on application under Article 186
  252. Supplementary
  253. 188Effect of company's failure to redeem or purchase
  254. 189Power of Department to modify this Chapter
  255. 190Transitional cases arising under this Chapter; and savings
  256. 191Interpretation for Chapter VII
  257. Chapter VIII: MISCELLANEOUS PROVISIONS ABOUT SHARES AND DEBENTURES
  258. Share and debenture certificates, transfers and warrants
  259. 192Nature, transfer and numbering of shares
  260. 193Transfer and registration Repealed
  261. 194Certification of transfers Repealed
  262. 195Duty of company as to issue of certificates Repealed
  263. 196Certificate to be evidence of title Repealed
  264. 197Evidence of grant of representation or confirmation as executor Repealed
  265. 198Issue and effect of share warrant to bearer Repealed
  266. Debentures
  267. 199Register of debenture holders Repealed
  268. 200Right to inspect register Repealed
  269. 201Liability of trustees of debentures Repealed
  270. 202Perpetual debentures Repealed
  271. 203Power to re-issue redeemed debentures Repealed
  272. 204Contract to subscribe for debentures Repealed
  273. 205Payment of debts out of assets subject to floating charge Repealed
  274. Part VII: DISCLOSURE OF INTERESTS IN SHARES
  275. Individual and group acquisitions
  276. 206Obligation of disclosure; the cases in which it may arise and “the relevant time” Repealed
  277. 207Interests to be disclosed Repealed
  278. 208“Percentage level” in relation to notifiable interests Repealed
  279. 210Particulars to be contained in notification Repealed
  280. 211Notification of family and corporate interests Repealed
  281. 212Agreement to acquire interests in a particular company Repealed
  282. 213Obligation of disclosure arising under Article 212 Repealed
  283. 214Obligation of persons acting together to keep each other informed Repealed
  284. 215Interests in shares by attribution Repealed
  285. 216Interests in shares which are to be notified Repealed
  286. 217Interests to be disregarded Repealed
  287. 218Other provisions about notification under this Part Repealed
  288. 218APower to make further provision by regulations Repealed
  289. Registration and investigation of share acquisitions and disposals
  290. 219Register of interests in shares Repealed
  291. 220Company investigations Repealed
  292. 221Registration of interests disclosed under Article 220 Repealed
  293. 222Company investigation on requisition by members Repealed
  294. 223Company report to members Repealed
  295. 224Penalty for failure to provide information Repealed
  296. 225Removal of entries from register Repealed
  297. 226Otherwise, entries not to be removed Repealed
  298. 227Inspection of register and reports Repealed
  299. Supplementary
  300. 228Interpretation of Part VII Repealed
  301. Part VIII: Accounts and Audit
  302. Chapter 1: Provisions Applying to Companies Generally
  303. Accounting records
  304. 229Duty to keep accounting records Repealed
  305. 230Where and for how long records to be kept Repealed
  306. A company's financial and accounting reference periods
  307. 231A company's financial year Repealed
  308. 232Accounting reference periods and accounting reference date Repealed
  309. 233Alteration of accounting reference date Repealed
  310. Annual accounts
  311. 234Duty to prepare individual accounts Repealed
  312. 234ACompanies Order individual accounts Repealed
  313. 234BIAS individual accounts Repealed
  314. 235Duty to prepare group accounts Repealed
  315. 235ACompanies Order group accounts Repealed
  316. 235BIAS group accounts Repealed
  317. 235CConsistency of accounts Repealed
  318. 236Exemption for parent companies included in accounts of larger group Repealed
  319. 236AExemption for parent companies included in non‐EEA group accounts Repealed
  320. 237Subsidiary undertakings included in the consolidation Repealed
  321. 238Treatment of individual profit and loss account where group accounts prepared Repealed
  322. 239Disclosure required in notes to accounts: related undertakings Repealed
  323. 239ADisclosure required in notes to annual accounts: particulars of staff Repealed
  324. 240Disclosure required in notes to accounts: emoluments and other benefits of directors and others Repealed
  325. Approval and signing of accounts
  326. 241Approval and signing of accounts Repealed
  327. DIRECTORS' REPORT
  328. 242Duty to prepare directors' report Repealed
  329. 242ZZADirectors' report: general requirements Repealed
  330. 242ZZBDirectors' report: business review Repealed
  331. 242AApproval and signing of directors' report Repealed
  332. . . .
  333. 242AADuty to prepare operating and financial review Repealed
  334. 242ABApproval and signing of operating and financial review Repealed
  335. Quoted companies: directors' remuneration report
  336. 242BDuty to prepare directors' remuneration report Repealed
  337. 242CApproval and signing of directors' remuneration report Repealed
  338. Auditors' report
  339. 243Auditors' report Repealed
  340. 244Signature of auditors' report Repealed
  341. 245Duties of auditors Repealed
  342. Publication of accounts and reports
  343. 246Persons entitled to receive copies of accounts and reports Repealed
  344. 246ATime allowed for sending out copies of accounts and reports Repealed
  345. 247Right to demand copies of accounts and reports Repealed
  346. 248Requirements in connection with publication of accounts Repealed
  347. Laying and delivering of accounts and reports
  348. 249shell centre redevAccounts and reports to be laid before company in general meeting Repealed
  349. 249AMembers' approval of directors' remuneration report Repealed
  350. 250Accounts and reports to be delivered to the registrar Repealed
  351. 250ACivil penalty for failure to deliver accounts Repealed
  352. 250BDelivery and publication of accounts in ECUs Repealed
  353. 252Period allowed for laying and delivering accounts and reports Repealed
  354. Revision of defective accounts and reports
  355. 253Voluntary revision of annual accounts or directors' report Repealed
  356. 253ADepartment's notice in respect of annual accounts Repealed
  357. 253BApplication to court in respect of defective accounts Repealed
  358. 253COther persons authorised to apply to court Repealed
  359. 253DDisclosure of information held by Inland Revenue to persons authorised to apply to court Repealed
  360. 253ERestrictions on use and further disclosure of information disclosed under Article 253D Repealed
  361. 253F. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  362. Chapter II: Exemptions, exceptions and special provisions
  363. Small and medium‐sized companies and groups
  364. 254Special provisions for small companies Repealed
  365. 254ASpecial provisions for medium‐sized companies Repealed
  366. 255Qualification of company as small or medium‐sized Repealed
  367. 255ACases in which special provisions do not apply Repealed
  368. 255BSpecial auditors' report Repealed
  369. 256Exemption for small and medium‐sized groups Repealed
  370. 256AGroup accounts prepared by small company Repealed
  371. 257Qualification of group as small or medium‐sized Repealed
  372. Exemptions from audit for certain categories of small company
  373. 257AExemptions from audit Repealed
  374. 257AADormant Companies Repealed
  375. 257BCases where exemptions not available Repealed
  376. 257CThe report required for the purposes of Article 257A(2) Repealed
  377. 257DThe reporting accountant Repealed
  378. 257EEffect of exemptions Repealed
  379. Listed public companies
  380. 259Summary financial statement Repealed
  381. Private companies
  382. 260Election to dispense with laying of accounts and reports before general meeting Repealed
  383. 261Right of shareholder to require laying of accounts Repealed
  384. Unlimited companies
  385. 262Exemption from requirement to deliver accounts and reports Repealed
  386. Banking and insurance companies and groups
  387. 263Special provisions for banking and insurance companies Repealed
  388. 263ASpecial provisions for banking and insurance groups Repealed
  389. 263BModification of disclosure requirements in relation to banking company or group Repealed
  390. 263DPower to apply provisions to banking partnerships Repealed
  391. Chapter III: SUPPLEMENTARY PROVISIONS
  392. Accounting standards
  393. 264Accounting standards Repealed
  394. Power to alter accounting requirements
  395. 265Power of Department to alter accounting requirements Repealed
  396. Parent and subsidiary undertakings
  397. 266Parent and subsidiary undertakings Repealed
  398. Other interpretation provisions
  399. 267Meaning of “undertaking” and related expressions Repealed
  400. 268Participating interests Repealed
  401. 269Notes to the accounts Repealed
  402. 270Minor definitions Repealed
  403. 270AIndex of defined expressions Repealed
  404. Part IX: DISTRIBUTION OF PROFITS AND ASSETS
  405. Limits of company's power of distribution
  406. 271Certain distributions prohibited Repealed
  407. 272Restriction on distribution of assets Repealed
  408. 273Other distributors by investment companies Repealed
  409. 274Meaning of “investment company” Repealed
  410. 275Extension of Articles 273 and 274 to other companies Repealed
  411. 276Realised profits of insurance company with long term business Repealed
  412. 277Treatment of development costs Repealed
  413. Relevant accounts
  414. 278Distribution to be justified by reference to company's accounts Repealed
  415. 279Requirements for last annual accounts Repealed
  416. 280Requirements for interim accounts Repealed
  417. 281Requirements for initial accounts Repealed
  418. 282Method of apply Article 278 so successive distributions Repealed
  419. 283Treatment of assets in the relevant accounts Repealed
  420. 284Distributors in kind Repealed
  421. Supplementary
  422. 285Consequences of unlawful distribution Repealed
  423. 286Saving for provision in a company's articles operative before the Order of 1981 Repealed
  424. 287Distributions by banking or insurance companies Repealed
  425. 288Interpretation for Part IX Repealed
  426. 289Saving for other restraints on distribution Repealed
  427. Part X: A COMPANY'S MANAGEMENT; DIRECTORS AND SECRETARIES; THEIR QUALIFICATIONS, DUTIES AND RESPONSIBILITIES
  428. Officers and registered office
  429. 290Directors Repealed
  430. 291Secretary Repealed
  431. 292Acts done by person in dual capacity Repealed
  432. 293Validity of acts of directors Repealed
  433. 294Qualifications of company secretaries Repealed
  434. 295Registered office
  435. 296Register of directors and secretaries
  436. 297Particulars of directors to be registered under Article 296
  437. 298Particulars of secretaries to be registered under Article 296
  438. Provisions governing appointment of directors
  439. 299Share qualifications of directors
  440. 300Appointment of directors to be voted on individually Repealed
  441. 301Age limit for directors Repealed
  442. 302Duty of director to disclose his age Repealed
  443. Removal of directors
  444. 311Resolution to remove director Repealed
  445. 312Director's right to protest removal Repealed
  446. Other provisions about directors and officers
  447. 313Directors' names on company correspondence, etc. Repealed
  448. 314Limited company may have directors with unlimited liability
  449. 315Special resolution making liability of directors unlimited
  450. 316Assignment of office by directors
  451. 317Directors to have regard to interests of employees Repealed
  452. 317AProvisions protecting directors from liability
  453. 317BQualifying third party indemnity provisions
  454. 317CDisclosure of qualifying third party indemnity provisions
  455. 318Provisions protecting auditors from liability Repealed
  456. Part XI: ENFORCEMENT OF FAIR DEALING BY DIRECTORS
  457. Restrictions on directors taking financial advantage
  458. 319Prohibition on tax-free payments to directors Repealed
  459. 320Payment to director for loss of office, etc. Repealed
  460. 321Company approval for property transfer Repealed
  461. 322Director's duty of disclosure on takeover, etc. Repealed
  462. 323Consequences of non-compliance with Article 322 Repealed
  463. 324Provisions supplementing Articles 320 to 323 Repealed
  464. 325Directors to disclose interest in contracts Repealed
  465. 326Directors' service contracts to be open to inspection Repealed
  466. 327Director's contract of employment for more than 5 years Repealed
  467. 328Substantial property transactions involving directors, etc. Repealed
  468. 329Exceptions from Article 328 Repealed
  469. 330Liabilities arising from contravention of Article 328 Repealed
  470. 330AInvalidity of certain transactions involving directors, etc.
  471. 330BContracts with sole members who are directors Repealed
  472. Share dealings by directors and their families
  473. 331Prohibition on directors dealing in share options Repealed
  474. 332Duty of director to disclose shareholdings in own company Repealed
  475. 333Register of directors' interests notified under Article 332 Repealed
  476. 334Sanctions for non-compliance Repealed
  477. 335Extension of Article 331 to spouses , civil partners and children Repealed
  478. 336Extenstion of Article 332 to spouses , civil partners and children Repealed
  479. 337Duty to notify stock exchange of matters notified under Articles 332 to 336 Repealed
  480. Restrictions on a company's power to make loans, etc. to directors and persons connected with them
  481. 338General restriction on loans, etc. to directors and persons connected with them Repealed
  482. 339Interpretation for Articles 338ff. Repealed
  483. 340Short-term quasi-loans Repealed
  484. 341Inter-company loans in the same group Repealed
  485. 342Loans of small amounts Repealed
  486. 343Minor and business transactions Repealed
  487. 344Transactions at behest of holding company Repealed
  488. 345Funding of director's expenditure on duty to company Repealed
  489. 345AFunding of director's expenditure on defending proceedings Repealed
  490. 346Loan or quasi-loan by money-lending company Repealed
  491. 347“Relevant amounts” for the purposes of Articles 342ff. Repealed
  492. 348“Value” of transactions and arrangements Repealed
  493. 349Civil remedies for breach of Article 338 Repealed
  494. 350Criminal penalties for breach of Article 338 Repealed
  495. 351Record of transactions not disclosed in company accounts Repealed
  496. 352Exceptions from Article 351 Repealed
  497. Supplementary
  498. 353Power to increase financial limits Repealed
  499. 354“Connected persons”, etc. Repealed
  500. 355Transactions under foreign law Repealed
  501. Part XII: COMPANY ADMINISTRATION AND PROCEDURE
  502. Chapter I: Company Identification
  503. 356Company name to appear outside place of business Repealed
  504. 357Company's name to appear in its correspondence, etc. Repealed
  505. 358Company seal
  506. 359Particulars in correspondence, etc. Repealed
  507. Chapter II: Register of Members
  508. 360Obligation to keep and enter up register
  509. 360AStatement that company has only one member
  510. 361Location of register
  511. 362Index of members
  512. 363Entries in register in relation to share warrants
  513. 364Inspection of register and index Repealed
  514. 365Non-compliance with Articles 361, 362 and 364; agent's default
  515. 366Power to close register
  516. 367Power of court to rectify register
  517. 368Trusts not be entered on register
  518. 369Register to be evidence
  519. 370External branch registers
  520. Chapter III: ANNUAL RETURN
  521. 371Duty to deliver annual returns
  522. 372Contents of annual return: general
  523. 372AContents of annual return: particulars of share capital . . .
  524. 372BContents of annual return: information about shareholders: non-traded companies
  525. 372CContents of annual return: information about shareholders: traded companies
  526. 372DContents of annual return: information about shareholders: supplementary
  527. 373Supplementary provisions: regulations and interpretation
  528. Chapter IV: Meetings and Resolutions
  529. Meetings
  530. 374Annual general meeting Repealed
  531. 374AElection by private company to dispense with annual general meetings Repealed
  532. 375Department's power to call meeting in default Repealed
  533. 376Extraordinary general meeting on member's requisition Repealed
  534. 377Length of notice for calling meetings Repealed
  535. 378General provisions as to meetings and votes Repealed
  536. 378AQuorum at meetings of the sole member Repealed
  537. 379Power of court to order meeting Repealed
  538. 380Proxies Repealed
  539. 381Right to demand a poll Repealed
  540. 382Voting on a poll Repealed
  541. 383Representation of bodies corporate at meetings Repealed
  542. Resolutions
  543. 384Circulation of members' resolutions Repealed
  544. 385In certain cases, compliance with Article 384 not required Repealed
  545. 386Extraordinary and special resolutions Repealed
  546. 387Resolution requiring special notice Repealed
  547. 387AElective resolution of private company
  548. 388Registration, etc. of resolutions and agreements
  549. 389Resolution passed at adjourned meeting Repealed
  550. Written resolutions of private companies
  551. 389AWritten resolutions of private companies Repealed
  552. 389BDuty to notify auditors of proposed written resolution Repealed
  553. 389CWritten resolutions: supplementary provisions Repealed
  554. Records of proceedings
  555. 390Minutes of meetings Repealed
  556. 390ARecording of written resolutions Repealed
  557. 390BRecording of decisions by the sole member Repealed
  558. 391Inspection of minute books Repealed
  559. Chapter V: AUDITORS
  560. Appointment of auditors
  561. 392Duty to appoint auditors Repealed
  562. 393Appointment at general meeting at which accounts laid Repealed
  563. 393AAppointment by private company which is not obliged to lay accounts Repealed
  564. 394Election by private company to dispense with annual appointment Repealed
  565. 395Appointment by Department in default of appointment by company Repealed
  566. 396Filling of casual vacancies Repealed
  567. 396ACertain companies exempt from obligation to appoint auditors Repealed
  568. Rights of auditors
  569. 397ARights to information Repealed
  570. 397BOffences relating to the provision of information to auditors Repealed
  571. 398Right to attend company meetings, &c. Repealed
  572. Remuneration of auditors
  573. 398ARemuneration of auditors Repealed
  574. 398BRemuneration of auditors or their associates for non-audit work Repealed
  575. Removal, resignation, &c. of auditors
  576. 399Removal of auditors Repealed
  577. 399ARights of auditors who are removed or not re-appointed Repealed
  578. 400Resignation of auditors Repealed
  579. 400ARights of resigning auditors Repealed
  580. 401Termination of appointment of auditors not appointed annually Repealed
  581. 401AStatement by person ceasing to hold office as auditor Repealed
  582. 401BOffences of failing to comply with Article 401A Repealed
  583. Part XIII: REGISTRATION OF CHARGES
  584. 402Certain charges void if not registered
  585. 403Charges which have to be registered
  586. 404Formalities of registration (debentures)
  587. 405Verification of charge on property outside Northern Ireland
  588. 406Company's duty to notify registrar of charges it creates
  589. 407Charges existing on property acquired
  590. 408Registration of orders charging land, etc.
  591. 409Register of charges to be kept by registrar
  592. 410Endorsement of certificate on debentures
  593. 411Entries of satisfaction and release
  594. 412Rectification of register of charges
  595. 413Registration of enforcement of security
  596. 414Companies to keep copies of instruments creating charges
  597. 415Company's register of charges
  598. 416Right to inspect instruments which create charges, etc.
  599. 417Application of this Part to companies incorporated outside Northern Ireland
  600. Part XIV: ARRANGEMENTS AND RECONSTRUCTIONS
  601. 418Power of company to compromise with creditors and members Repealed
  602. 419Information as to compromise to be circulated Repealed
  603. 420Provisions for facilitating company reconstruction or amalgamation Repealed
  604. 420AApplication of Articles 418 to 420 mergers and divisions of public companies Repealed
  605. Part XIVA: TAKEOVER OFFERS
  606. 421Takeover offers Repealed
  607. 422Right of offeror to buy out minority shareholders Repealed
  608. 423Effect of notice under Article 422 Repealed
  609. 423ARight of minority shareholder to be bought out by offeror Repealed
  610. 423BEffect of requirement under Article 423A Repealed
  611. 423CApplications to the court Repealed
  612. 423DJoint offers Repealed
  613. 423EAssociates Repealed
  614. 423FConvertible securities Repealed
  615. Part XV: INVESTIGATION OF COMPANIES AND THEIR AFFAIRS; REQUISITION OF DOCUMENTS
  616. Appointment and functions of inspectors
  617. 424Investigation of a company on its own application or that of its members
  618. 425Other company investigations
  619. 426Inspectors' powers during investigation
  620. 427Production of documents and evidence to inspectors
  621. 429Obstruction of inspectors treated as contempt of court
  622. 430Inspectors' reports
  623. 431Power to bring civil proceedings on company's behalf Repealed
  624. 432Expenses of investigating a company's affairs
  625. 434Inspectors' report to be evidence
  626. Other powers of investigation available to the Department
  627. 435Power to investigate company ownership
  628. 436Provisions applicable on investigation under Article 435
  629. 437Power to obtain information as to those interested in shares, etc.
  630. 438Power to impose restrictions on shares and debentures
  631. 439Investigation of share dealings
  632. Requisition and seizure of books and papers
  633. 440Department's power to require production of documents
  634. 441Entry and search of premises
  635. 442Provision for security of information obtained
  636. 443Punishment for destroying, mutilating, etc. company documents
  637. 444Punishment for furnishing false information
  638. 444ADisclosure of information by Department or inspector
  639. Supplementary
  640. 445Privileged information
  641. 446Investigation of bodies incorporated outside Northern Ireland
  642. 446DOffences by bodies corporate
  643. Part XVI: ORDERS IMPOSING RESTRICTIONS ON SHARES (ARTICLE 438)
  644. 447Consequence of order imposing restrictions
  645. 448Punishment for attempted evasion of restrictions
  646. 449Relaxation and removal of restrictions
  647. 450Further provisions on sale by court order of restricted shares
  648. Part XVII: FRAUDULENT TRADING BY A COMPANY
  649. 451Punishment for fraudulent trading Repealed
  650. Part XVIII: PROTECTION OF COMPANY'S MEMBERS AGAINST UNFAIR PREJUDICE
  651. 452Order on application of company member Repealed
  652. 453Order on application of the Department Repealed
  653. 454Provisions as to petitions and orders under this Part Repealed
  654. Part XIX - rep. by 1989 NI 19
  655. Part XX: WINDING UP OF COMPANIES REGISTERED UNDER THIS ORDER OR THE FORMER COMPANIES ACTS
  656. CHAPTER I - V - Rep. by 1989 NI 19
  657. VIPROVISIONS AS TO DISSOLUTION
  658. 602Power of court to declare dissolution of company void
  659. 603Registrar may strike defunct company off register
  660. 603ARegistrar may strike private company off register on application
  661. 603BDuties in connection with making application under Article 603A
  662. 603CDirectors' duties following application under Article 603A
  663. 603DArticles 603B and 603C: supplementary provisions
  664. 603EArticles 603B and 603C: enforcement
  665. 603FOther offences connected with Article 603A
  666. 604Objection to striking off by person aggrieved
  667. 605Property of dissolved company to be a bona vacantia
  668. 606Effect on Article 605 of company's revival after dissolution
  669. 607Crown disclaimer of property vesting as bona vacantia
  670. 608Effect of Crown disclaimer under Article 607
  671. 609Liability for rentcharge on company's land after dissolution
  672. CHAPTER VII - rep. by 1989 NI 19
  673. PART XXI rep. by 1989 NI 19
  674. Part XXII: BODIES CORPORATE SUBJECT, OR BECOMING SUBJECT, TO THIS ORDER (OTHERWISE THAN BY ORIGINAL FORMATION UNDER PART II)
  675. Chapter I: COMPANIES FORMED OR REGISTERED UNDER FORMER COMPANIES ACTS
  676. 625Companies formed and registered under former Companies Acts
  677. 626Companies registered but not formed under former Companies Acts
  678. 627Companies re-registered with altered status under former Companies Acts
  679. 628Companies registered under Joint Stock Companies Acts
  680. Chapter II: COMPANIES NOT FORMED UNDER COMPANIES LEGISLATION, BUT AUTHORISED TO REGISTER
  681. 629Companies capable of being registered under this Chapter
  682. 630Procedural requirements for registration
  683. 631Change of name on registration
  684. 632Definition of “joint stock company”
  685. 633Requirements for registration by joint stock companies
  686. 634Registration of joint stock company as public company
  687. 635Other requirements for registration
  688. 636Name of company registering
  689. 637Certificate of registration under this Chapter
  690. 638Effect of registration
  691. 639Power to substitute memorandum and articles for deed of settlement
  692. Part XXIII: COMPANIES INCORPORATED OUTSIDE NORTHERN IRELAND CARRYING ON BUSINESS IN NORTHERN IRELAND
  693. Chapter I: REGISTRATION, ETC.
  694. 640Application of this Part
  695. 640ABranch registration under the Eleventh Company Law Directive (89/666/EEC)
  696. 640BScope of Articles 641 and 642
  697. 641Documents to be delivered to registrar
  698. 642Registration of altered particulars
  699. 642AChange in registration regime
  700. 643Obligation to state name and other particulars
  701. 644Regulation of Part XXIII companies in respect of their names
  702. 644AService of documents: companies to which Article 640A applies
  703. 645Service of documents on a Part XXIII company
  704. 645ADocuments to be filed on cessation of business: companies to which Article 640A applies
  705. 646Documents to be filed on cessation of business
  706. 647Penalties for non-compliance
  707. 648Interpretation . . .
  708. IIDELIVERY OF ACCOUNTS AND REPORTS
  709. 648ACredit and financial institutions to which the Bank Branches Directive (89/117/EEC) applies
  710. 648AACompanies to which the Eleventh Company Law Directive applies
  711. 648BScope of Articles 649 to 652
  712. 649Preparation of accounts and reports by Part XXIII companies
  713. 650Part XXIII company's financial year and accounting reference periods
  714. 651Delivery to registrar of accounts and reports of Part XXIII company
  715. 652Penalty for non-compliance
  716. Chapter III: REGISTRATION OF CHARGES
  717. 652A-652M{prosp insertion of arts. 652A-652M by 1990 NI 10} Repealed
  718. Chapter IV: WINDING UP, ETC.
  719. 652NScope of Chapter
  720. 652OParticulars to be delivered to the registrar: winding up
  721. 652PParticulars to be delivered to the registrar: insolvency proceedings etc.
  722. 652QPenalty for non-compliance
  723. XXIVTHE REGISTRAR OF COMPANIES, HIS FUNCTIONS AND OFFICE
  724. 653Registration office and registrar
  725. 654Companies' registered numbers
  726. 654ARegistration of branches of Part XXIII companies
  727. 655Delivery to the registar of documents in legible form
  728. 656AThe keeping of company records by the registrar
  729. 656BDelivery to the registrar using electronic communications
  730. 657Fees payable to registrar
  731. 658Inspection, &c. of records kept by the registrar Repealed
  732. 659Certificate of incorporation
  733. 659AProvision and authentication by registrar of documents is non-legible form
  734. 660Public notice by registrar of receipt or issue of certain documents Repealed
  735. 662Enforcement of company's duty to make returns
  736. 663Registrar's index of company and corporate names
  737. 664AInterpretation
  738. XXVMISCELLANEOUS AND SUPPLEMENTARY PROVISIONS
  739. 667Unregistered companies
  740. 668Power of company to provide for employees on cessation or transfer of business
  741. 669Certain companies to publish periodical statement Repealed
  742. 670Production and inspection of books where offence suspected
  743. 671Form of company registers, etc.
  744. 672Use of computers for company records
  745. 672AObligations of company as to inspection of registers, &c.
  746. 673Service of documents
  747. 674Costs and expenses in actions by certain limited companies
  748. 675Power of court to grant relief in certain cases Repealed
  749. 676Enforcement of High Court orders
  750. 677Annual report by the Department Repealed
  751. 678Punishment of offences
  752. 679Summary proceedings
  753. 680Prosecution by public authorities Repealed
  754. 680AOffences by bodies corporate Repealed
  755. 680BCriminal proceedings against unincorporated bodies Repealed
  756. 681Regulations
  757. Schedule 1: PARTICULARS OF DIRECTORS, ETC. TO BE CONTAINED IN STATEMENT UNDER AERTICLE 21
  758. Directors
  759. 1Paragraph 1
  760. 2Paragraph 2
  761. Secretaries
  762. 3Paragraph 3
  763. Interpretation
  764. 4Paragraph 4
  765. Schedule 2: INTERPRETATION OF REFERNECES TO “BENEFICIAL INTEREST”
  766. Part I: REFERENCES IN ARTICLES 33, 155, 156 AND 158
  767. Residual interests under pension and employees' share schemes
  768. 1Paragraph 1
  769. 2Paragraph 2
  770. Employer's charges and other rights of recovery
  771. 3Paragraph 3
  772. Trustee's right to expenses, remuneration, indemnity, etc.
  773. 4Paragraph 4
  774. Supplementary
  775. 5Paragraph 5
  776. Part II: REFERENCES IN SCHEDULE 5
  777. Residual interests under pension and employees' share schemes
  778. 6Paragraph 6
  779. Employer's charges and other rights of recovery
  780. 7Paragraph 7
  781. Trustee's right to expenses, remuneration, indemnity, &c.
  782. 8Paragraph 8
  783. Supplementary
  784. 9Paragraph 9
  785. Schedule 3: MANDATORY CONTENTS OF PROSPECTUS
  786. Part I: MATTERS TO BE STATED
  787. The company's proprietorship, management and its capital requirement
  788. 1Paragraph 1
  789. 2Paragraph 2
  790. Details relating to the offer
  791. 3Paragraph 3
  792. 4Paragraph 4
  793. 5Paragraph 5
  794. Property acquired or to be acquired by the company
  795. 6Paragraph 6
  796. 7Paragraph 7
  797. 8Paragraph 8
  798. 9Paragraph 9
  799. Commissions, preliminary expenses, etc.
  800. 10Paragraph 10
  801. Contracts
  802. 11Paragraph 11
  803. Auditors
  804. 12Paragraph 12
  805. Interests of directors
  806. 13Paragraph 13
  807. Other matters
  808. 14Paragraph 14
  809. 15Paragraph 15
  810. Part II: AUDITORS' AND ACCOUNTANTS' REPORTS TO BE SET OUT IN PROSPECTUS
  811. Auditors' report
  812. 16Paragraph 16
  813. Accountants' reports
  814. 17Paragraph 17
  815. 18Paragraph 18
  816. Provisions interpreting preceding paragraphs, and modifying them in certain cases
  817. 19Paragraph 19
  818. 20Paragraph 20
  819. 21Paragraph 21
  820. 22Paragraph 22
  821. Schedule 4
  822. Part I: GENERAL RULES AND FORMATS
  823. Chapter SECTION A: GENERAL RULES
  824. 1Paragraph 1
  825. 2Paragraph 2
  826. 3Paragraph 3
  827. 4Paragraph 4
  828. 5Paragraph 5
  829. 5AParagraph 5A
  830. Chapter SECTION B: THE REQUIRED FORMATS FOR ACCOUNTS
  831. Preliminary
  832. 6Paragraph 6
  833. 7Paragraph 7
  834. 8Paragraph 8
  835. AParagraph A
  836. BParagraph B
  837. CParagraph C
  838. DParagraph D
  839. EParagraph E
  840. FParagraph F
  841. GParagraph G
  842. HParagraph H
  843. IParagraph I
  844. JParagraph J
  845. KParagraph K
  846. AParagraph A
  847. BParagraph B
  848. CParagraph C
  849. DParagraph D
  850. AParagraph A
  851. BParagraph B
  852. CParagraph C
  853. DParagraph D
  854. AParagraph A
  855. BParagraph B
  856. AParagraph A
  857. BParagraph B
  858. Part II: ACCOUNTING PRINCIPLES AND RULES
  859. Chapter SECTION A: ACCOUNTING PRINCIPLES
  860. Preliminary
  861. 9Paragraph 9
  862. Accounting principles
  863. 10Paragraph 10
  864. 11Paragraph 11
  865. 12Paragraph 12
  866. 13Paragraph 13
  867. 14Paragraph 14
  868. Departure from the accounting principles
  869. 15Paragraph 15
  870. Chapter SECTION B: HISTORICAL COST ACCOUNTING RULES
  872. 16Paragraph 16
  873. Fixed assets
  874. 17General rules
  875. 18Paragraph 18
  876. 19Paragraph 19
  877. 20Rules for determining particular fixed asset items
  878. 21Paragraph 21
  879. Current assets
  880. 22Paragraph 22
  881. 23Paragraph 23
  882. Miscellaneous and supplementary provisions
  883. 24Excess of money owed over value received as an asset item
  884. 25Assets included at a fixed amount
  885. 26Determination of purchase price or production cost
  886. 27Paragraph 27
  887. 28Substitution of original stated amount where price or cost unknown
  888. Chapter SECTION C: ALTERNATIVE ACCOUNTING RULES
  889. Preliminary
  890. 29Paragraph 29
  891. 30Paragraph 30
  892. Alternative accounting rules
  893. 31Paragraph 31
  894. Application of the depreciation rules
  895. 32Paragraph 32
  896. Additional information to be provided in case of departure from historical cost accounting rules
  897. 33Paragraph 33
  898. Revaluation reserve
  899. 34Paragraph 34
  900. Chapter SECTION D: FAIR VALUE ACCOUNTING
  901. Inclusion of financial instruments at fair value
  902. 34AParagraph 34A
  903. Determination of fair value
  904. 34BParagraph 34B
  905. Inclusion of hedged items at fair value
  906. 34CParagraph 34C
  907. Other assets that may be included at fair value
  908. 34DParagraph 34D
  909. Accounting for changes in value
  910. 34EParagraph 34E
  911. The fair value reserve
  912. 34FParagraph 34F
  913. Part III: NOTES TO THE ACCOUNTS
  914. Preliminary
  915. 35Paragraph 35
  916. Reserves and dividends
  917. 35AParagraph 35A
  918. Disclosure of accounting policies
  919. 36Paragraph 36
  920. 36AParagraph 36A
  921. Information supplementing the balance sheet
  922. 37Paragraph 37
  923. 38Share capital and debentures
  924. 39Paragraph 39
  925. 40Paragraph 40
  926. 41Paragraph 41
  927. 42Fixed assets
  928. 43Paragraph 43
  929. 44Paragraph 44
  930. 45Investments
  931. 45AInformation about fair value of assets and liabilities
  932. 45BParagraph 45B
  933. 45CParagraph 45C
  934. 45DInformation where investment property and living animals and plants included at fair value
  935. 46Reserves and provisions
  936. 47Provision for taxation
  937. 48Details of indebtedness
  938. 49Paragraph 49
  939. 50Guarantees and other financial commitments
  940. 51Miscellaneous matters
  941. Information supplementing the profit and loss account
  942. 52Paragraph 52
  943. 53Separate statement of certain items of income and expenditure
  944. 54Particulars of tax
  945. 55Particulars of turnover
  946. 57Miscellaneous matters
  947. General
  948. 58Paragraph 58
  949. 58ADormant companies acting as agents
  950. Part IV: SPECIAL PROVISIONS WHERE COMPANY IS A PARENT COMPANY OR SUBSIDIARY UNDERTAKING
  951. Company's own accounts
  952. Guarantees and other financial commitments in favour of group undertakings
  953. 59AParagraph 59A
  955. VSPECIAL PROVISIONS WHERE THE COMPANY IS AN INVESTMENT COMPANY
  956. 71Paragraph 71
  957. 72Paragraph 72
  958. 73Paragraph 73
  959. VISPECIAL PROVISIONS WHERE THE COMPANY HAS ENTERED INTO ARRANGEMENTS SUBJECT TO MERGER RELIEF
  960. VIIINTERPRETATION OF SCHEDULE
  961. 76Paragraph 76
  962. 76AFinancial instruments
  963. 76BParagraph 76B
  964. 81Historical cost accounting rules
  965. 81AInvestment property
  966. 82Leases
  967. 83Listed investments
  968. 84Loans
  969. 85Materiality
  970. 87Provisions
  971. 88Paragraph 88
  972. 92Staff costs
  973. Schedule 4A: FORM AND CONTENT OF GROUP ACCOUNTS
  974. General rules
  975. 1Paragraph 1
  976. 2Paragraph 2
  977. 3Paragraph 3
  978. 4Paragraph 4
  979. 5Paragraph 5
  980. Elimination of group transactions
  981. 6Paragraph 6
  982. Acquisition and merger accounting
  983. 7Paragraph 7
  984. 8Paragraph 8
  985. 9Paragraph 9
  986. 10Paragraph 10
  987. 11Paragraph 11
  988. 12Paragraph 12
  989. 13Paragraph 13
  990. 14Paragraph 14
  991. 15Paragraph 15
  992. 16Paragraph 16
  993. Minority interests
  994. 17Paragraph 17
  995. Joint ventures
  996. 19Paragraph 19
  997. Associated undertakings
  998. 20Paragraph 20
  999. 21Paragraph 21
  1000. 22Paragraph 22
  1001. Schedule 5: DISCLOSURE OF INFORMATION: RELATED UNDERTAKINGS
  1002. Part I: COMPANIES NOT REQUIRED TO PREPARE GROUP ACCOUNTS
  1003. Subsidiary undertakings
  1004. 1Paragraph 1
  1005. Holdings in subsidiary undertakings
  1006. 2Paragraph 2
  1007. Financial information about subsidiary undertakings
  1008. 3Paragraph 3
  1009. Financial years subsidiary undertakings
  1010. 4Paragraph 4
  1011. Shares and debentures of company held by subsidiary undertakings
  1012. 6Paragraph 6
  1013. Significant holdings in undertakings other than subsidiary undertakings
  1014. 7Paragraph 7
  1015. 8Paragraph 8
  1016. 9Paragraph 9
  1017. Membership of certain undertakings
  1018. 9AParagraph 9A
  1020. Parent undertaking drawing up accounts for larger group
  1021. 11Paragraph 11
  1022. Identification of ultimate parent company
  1023. 12Paragraph 12
  1024. Constructions of references to shares held by company
  1025. 13Paragraph 13
  1026. Part II: COMPANIES REQUIRED TO PREPARE GROUP ACCOUNTS
  1027. Introductory
  1028. 14Paragraph 14
  1029. Subsidiary undertakings
  1030. 15Paragraph 15
  1031. Holdings in subsidiary undertakings
  1032. 16Paragraph 16
  1033. Financial information about subsidiary undertakings not included in the consolidation
  1034. 17Paragraph 17
  1036. Shares and debentures of company held by subsidiary undertakings
  1037. 20Paragraph 20
  1038. Joint ventures
  1039. 21Paragraph 21
  1040. Associated undertakings
  1041. 22Paragraph 22
  1042. Other significant holdings of parent company or group
  1043. 23Paragraph 23
  1044. 24Paragraph 24
  1045. 25Paragraph 25
  1046. 26Paragraph 26
  1047. 27Paragraph 27
  1048. 28Paragraph 28
  1049. Parent company's or group's membership of certain undertakings
  1050. 28AParagraph 28A
  1052. Parent undertaking drawing up accounts for larger group
  1053. 30Paragraph 30
  1054. Identification of ultimate parent company
  1055. 31Paragraph 31
  1056. Construction of references to shares held by parent company or group
  1057. 32Paragraph 32
  1058. Schedule 6
  1059. Part I: CHAIRMAN'S AND DIRECTORS' EMOLUMENTS, PENSIONS AND COMPENSATION FOR LOSS OF OFFICE
  1060. PROVISIONS APPLYING TO QUOTED AND UNQUOTED COMPANIES
  1061. 1Aggregate amount of directors' emoluments etc.
  1062. PROVISIONS APPLYING ONLY TO UNQUOTED COMPANIES
  1063. 2Details of highest paid director's emoluments etc.
  1064. 7Excess retirement benefits of directors and past directors
  1065. 8Compensation to directors for loss of office
  1066. 9Sums paid to third parties in respect of directors' services
  1067. 10Supplementary
  1068. 11Paragraph 11
  1069. 12Paragraph 12
  1070. 13Interpretation
  1071. 14Supplementary
  1072. IILOANS, QUASI‐LOANS AND OTHER DEALINGS IN FAVOUR OF DIRECTORS
  1073. 15Paragraph 15
  1074. 16Paragraph 16
  1075. 17Paragraph 17
  1076. 18Paragraph 18
  1077. 19Paragraph 19
  1078. 20Paragraph 20
  1079. 21Paragraph 21
  1080. 22The particulars required by this Part
  1081. 23Paragraph 23
  1082. 24Excluded transactions
  1083. 25Paragraph 25
  1084. 26Paragraph 26
  1085. 27Interpretation
  1086. Part III: OTHER TRANSACTIONS, ARRANGEMENTS AND AGREEMENTS
  1087. 28Paragraph 28
  1088. 29Paragraph 29
  1089. 30Paragraph 30
  1090. Schedule 7
  1091. Part I: MATTERS OF A GENERAL NATURE
  1092. Asset values
  1093. 1Paragraph 1
  1094. Directors' interests
  1095. 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  1096. 2A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  1097. 2B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  1098. Political and charitable gifts
  1099. 3Paragraph 3
  1100. 4Paragraph 4
  1101. 5Paragraph 5
  1102. Miscellaneous
  1103. 6Paragraph 6
  1104. Part II: DISCLOSURE REQUIRED BY COMPANY ACQUIRING ITS OWN SHARES, ETC.
  1105. 7Paragraph 7
  1106. 8Paragraph 8
  1107. Part III: DISCLOSURE CONCERNING EMPLOYMENT, ETC. OF DISABLED PERSONS
  1108. 9Paragraph 9
  1109. IVrep. by SR 1997/314
  1110. Part V: EMPLOYEE INVOLVEMENT
  1111. 11Paragraph 11
  1112. Part VI: Policy and Practice on Payment of Creditors
  1113. 12Paragraph 12
  1114. Schedule 7ZA: OPERATING AND FINANCIAL REVIEW
  1115. Review objective
  1116. 1Paragraph 1
  1117. Other general requirements
  1118. 2Paragraph 2
  1119. Details of particular matters
  1120. 3Paragraph 3
  1121. 4Paragraph 4
  1122. 5Paragraph 5
  1123. 6Paragraph 6
  1124. Reference to and explanation of company accounts
  1125. 7Paragraph 7
  1126. Application of Schedule to group operating and financial review
  1127. 8Paragraph 8
  1128. Schedule 7A
  1129. Part I: INTRODUCTORY
  1130. 1Paragraph 1
  1131. Part II: INFORMATION NOT SUBJECT TO AUDIT
  1132. Consideration by the directors of matters relating to directors' remuneration
  1133. 2Paragraph 2
  1134. Statement of company's policy on directors' remuneration
  1135. 3Paragraph 3
  1136. Performance graph
  1137. 4Paragraph 4
  1138. Service contracts
  1139. 5Paragraph 5
  1140. Part III: INFORMATION SUBJECT TO AUDIT
  1141. Amount of each director's emoluments and compensation in the relevant financial year
  1142. 6Paragraph 6
  1143. Share options
  1144. 7Paragraph 7
  1145. 8Paragraph 8
  1146. 9Paragraph 9
  1147. Long-term incentive schemes
  1148. 10Paragraph 10
  1149. 11Paragraph 11
  1150. Pensions
  1151. 12Paragraph 12
  1152. Excess retirement benefits of directors and past directors
  1153. 13Paragraph 13
  1154. Compensation for past directors
  1155. 14Paragraph 14
  1156. Sums paid to third parties in respect of a director's services
  1157. 15Paragraph 15
  1158. Part IV: INTERPRETATION AND SUPPLEMENTARY
  1159. 16Paragraph 16
  1160. 17Paragraph 17
  1161. 18Paragraph 18
  1162. 19Paragraph 19
  1163. 20Paragraph 20
  1164. 21Paragraph 21
  1165. Schedule Schedule
  1166. Schedule 8: FORM AND CONTENT OF ACCOUNTS PREPARED BY SMALL COMPANIES
  1167. Part I: GENERAL RULES AND FORMATS
  1168. Chapter SECTION A: GENERAL RULES
  1169. 1Paragraph 1
  1170. 2Paragraph 2
  1171. 3Paragraph 3
  1172. 4Paragraph 4
  1173. 5Paragraph 5
  1174. 5AParagraph 5A
  1175. Chapter SECTION B: THE REQUIRED FORMATS FOR ACCOUNTS
  1176. Preliminary
  1177. 6Paragraph 6
  1178. 7Paragraph 7
  1179. 8Paragraph 8
  1180. AParagraph A
  1181. BParagraph B
  1182. CParagraph C
  1183. DParagraph D
  1184. EParagraph E
  1185. FParagraph F
  1186. GParagraph G
  1187. HParagraph H
  1188. IParagraph I
  1189. JParagraph J
  1190. KParagraph K
  1191. AParagraph A
  1192. BParagraph B
  1193. CParagraph C
  1194. DParagraph D
  1195. AParagraph A
  1196. BParagraph B
  1197. CParagraph C
  1198. DParagraph D
  1199. AParagraph A
  1200. BParagraph B
  1201. AParagraph A
  1202. BParagraph B
  1203. Part II: ACCOUNTING PRINCIPLES AND RULES
  1204. Chapter SECTION A: ACCOUNTING PRINCIPLES
  1205. Preliminary
  1206. 9Paragraph 9
  1207. Accounting principles
  1208. 10Paragraph 10
  1209. 11Paragraph 11
  1210. 12Paragraph 12
  1211. 13Paragraph 13
  1212. 14Paragraph 14
  1213. Departure from the accounting principles
  1214. 15Paragraph 15
  1215. Chapter SECTION B: HISTORICAL COST ACCOUNTING RULES
  1216. Preliminary
  1217. 16Paragraph 16
  1218. Fixed assets
  1219. 17General rules
  1220. 18Paragraph 18
  1221. 19Paragraph 19
  1222. 20Rules for determining particular fixed asset items
  1223. 21Paragraph 21
  1224. Current assets
  1225. 22Paragraph 22
  1226. 23Paragraph 23
  1227. Miscellaneous and supplementary provisions
  1228. 24Excess of money owed over value received as an asset item
  1229. 25Assets included at a fixed amount
  1230. 26Determination of purchase price or production cost
  1231. 27Paragraph 27
  1232. 28Substitution of original stated amount where price or cost unknown
  1233. Chapter SECTION C: ALTERNATIVE ACCOUNTING RULES
  1234. Preliminary
  1235. 29Paragraph 29
  1236. 30Paragraph 30
  1237. Alternative accounting rules
  1238. 31Paragraph 31
  1239. Application of the depreciation rules
  1240. 32Paragraph 32
  1241. 33Additional information to be provided in case of departure from historical cost accounting rules
  1242. Revaluation reserve
  1243. 34Paragraph 34
  1244. Chapter SECTION D: FAIR VALUE ACCOUNTING
  1245. Inclusion of financial instruments at fair value
  1246. 34AParagraph 34A
  1247. Determination of fair value
  1248. 34BParagraph 34B
  1249. Inclusion of hedged items at fair value
  1250. 34CParagraph 34C
  1251. Other assets that may be included at fair value
  1252. 34DParagraph 34D
  1253. Accounting for changes in value
  1254. 34EParagraph 34E
  1255. The fair value reserve
  1256. 34FParagraph 34F
  1257. Part III: NOTES TO THE ACCOUNTS
  1258. Preliminary
  1259. 35Paragraph 35
  1260. Reserves and dividends
  1261. 35AParagraph 35A
  1262. Disclosure of account policies
  1263. 36Paragraph 36
  1264. Information supplementing the balance sheet
  1265. 37Paragraph 37
  1266. 38Share capital and debentures
  1267. 39Paragraph 39
  1268. 40Fixed assets
  1269. 41Paragraph 41
  1270. 42Investments
  1271. 42AInformation about fair value of assets and liabilities
  1272. 42BParagraph 42B
  1273. 42CInformation where investment property and living animals and plants included at fair value
  1274. 43Reserves and provisions
  1275. 44Details of indebtedness
  1276. 45Paragraph 45
  1277. 46Guarantees and other financial commitments
  1278. 47Miscellaneous matters
  1279. Information supplementing the profit and loss account
  1280. 48Paragraph 48
  1281. 49Particulars of turnover
  1282. 50Miscellaneous matters
  1283. General
  1284. 51Paragraph 51
  1285. 51ADormant companies acting as agents
  1286. Part IV: INTERPRETATION OF SCHEDULE
  1287. 52Paragraph 52
  1288. 52AFinancial instruments
  1289. 52BParagraph 52B
  1290. 53Historical cost accounting rules
  1291. 53AInvestment property
  1292. 54Listed investments
  1293. 55Loans
  1294. 56Materiality
  1295. 57Provisions
  1296. 58Paragraph 58
  1297. 59Staff costs
  1298. Schedule 8A: Form and Content of Abbreviated Accounts of Small Companies delivered to Registrar
  1299. IBALANCE SHEET FORMATS
  1300. 1Paragraph 1
  1301. 2Paragraph 2
  1302. AParagraph A
  1303. BParagraph B
  1304. CParagraph C
  1305. DParagraph D
  1306. EParagraph E
  1307. FParagraph F
  1308. GParagraph G
  1309. HParagraph H
  1310. IParagraph I
  1311. JParagraph J
  1312. KParagraph K
  1313. AParagraph A
  1314. BParagraph B
  1315. CParagraph C
  1316. DParagraph D
  1317. AParagraph A
  1318. BParagraph B
  1319. CParagraph C
  1320. DParagraph D
  1321. Part II: NOTES TO THE ACCOUNTS
  1322. Preliminary
  1323. 3Paragraph 3
  1324. Disclosure of accounting policies
  1325. 4Paragraph 4
  1326. Information supplementing the balance sheet
  1327. 5Share capital and debentures
  1328. 6Paragraph 6
  1329. 7Fixed assets
  1330. 7AFinancial fixed assets
  1331. 8Details of indebtedness
  1332. General
  1333. 9Paragraph 9
  1334. 9ADormant companies acting as agents
  1335. Schedule 9
  1336. Part I: INDIVIDUAL ACCOUNTS
  1337. CHAPTER IGENERAL RULES AND FORMATS
  1338. SECTION AGENERAL RULES
  1339. 1Paragraph 1
  1340. 4Paragraph 4
  1341. 5Paragraph 5
  1342. 6Paragraph 6
  1343. 7Paragraph 7
  1344. 8AParagraph 8A
  1345. SECTION BTHE REQUIRED FORMATS FOR ACCOUNTS
  1346. Preliminary
  1347. 9Paragraph 9
  1348. 10Paragraph 10
  1349. Balance Sheet Format
  1350. 1Paragraph 1
  1351. 5Paragraph 5
  1352. 6Paragraph 6
  1353. 7Paragraph 7
  1354. 8Paragraph 8
  1355. 9Paragraph 9
  1356. 10Paragraph 10
  1357. 11Paragraph 11
  1358. 12Paragraph 12
  1359. 13Paragraph 13
  1360. 14Paragraph 14
  1361. 15Paragraph 15
  1362. 1Paragraph 1
  1363. 5Paragraph 5
  1364. 6Paragraph 6
  1365. 7Paragraph 7
  1366. 8Paragraph 8
  1367. 9Paragraph 9
  1368. 10Paragraph 10
  1369. 11Paragraph 11
  1370. 12Paragraph 12
  1371. 1Paragraph 1
  1372. Notes on the balance sheet format and memorandum items
  1373. 1Paragraph 1
  1374. 5Paragraph 5
  1375. 6Paragraph 6
  1376. 7Paragraph 7
  1377. 8Paragraph 8
  1378. 9Paragraph 9
  1379. 10Paragraph 10
  1380. 11Paragraph 11
  1381. 12Paragraph 12
  1382. 13Paragraph 13
  1383. 14Paragraph 14
  1384. 15Paragraph 15
  1385. 16Paragraph 16
  1386. 17Paragraph 17
  1387. 18Paragraph 18
  1388. 19Paragraph 19
  1389. 20Paragraph 20
  1390. Special Rules
  1391. 11Subordinated assets
  1392. 12Syndicated loans
  1393. 13Sale and repurchase transactions
  1394. 14Sale and option to resell transactions
  1395. 15Managed funds
  1396. Profit and Loss Account Formats
  1397. FORMAT 1
  1398. 1Paragraph 1
  1399. 5Paragraph 5
  1400. 6Paragraph 6
  1401. 7Paragraph 7
  1402. 8Paragraph 8
  1403. 9Paragraph 9
  1404. 10Paragraph 10
  1405. 11Paragraph 11
  1406. 12Paragraph 12
  1407. 13Paragraph 13
  1408. 14Paragraph 14
  1409. 15Paragraph 15
  1410. 16Paragraph 16
  1411. 17Paragraph 17
  1412. 18Paragraph 18
  1413. 19Paragraph 19
  1414. 20Paragraph 20
  1415. 21Paragraph 21
  1416. 22Paragraph 22
  1417. 23Paragraph 23
  1418. 24Paragraph 24
  1419. FORMAT 2
  1420. AParagraph A
  1421. BParagraph B
  1422. Notes on the profit and loss account formats
  1423. 1Paragraph 1
  1424. 5Paragraph 5
  1425. 6Paragraph 6
  1426. 7Paragraph 7
  1427. 8Paragraph 8
  1428. 9Paragraph 9
  1429. 10Paragraph 10
  1430. 11Paragraph 11
  1431. 12Paragraph 12
  1432. CHAPTER IIACCOUNTING PRINCIPLES AND RULES
  1433. ACCOUNTING PRINCIPLES
  1434. 16Paragraph 16
  1435. Accounting principles
  1436. 17Paragraph 17
  1437. 18Paragraph 18
  1438. 19Paragraph 19
  1439. 20Paragraph 20
  1440. 21Paragraph 21
  1441. Departure from the accounting principles
  1442. 22Paragraph 22
  1443. SECTION BVALUATION RULES
  1444. HISTORICAL COST ACCOUNTING RULES
  1445. Preliminary
  1446. 23Paragraph 23
  1447. Fixed assets
  1448. 24General rules
  1449. 25Paragraph 25
  1450. 26Paragraph 26
  1451. 27Development costs
  1452. 28Goodwill
  1453. 29Intangible and tangible fixed assets
  1454. 30Other fixed assets
  1455. 31Financial fixed assets
  1456. Current Assets
  1457. 32Paragraph 32
  1458. 33Paragraph 33
  1459. 34Paragraph 34
  1460. Miscellaneous and supplementary provisions
  1461. 35Excess of money owed over value received as an asset item
  1462. 36Determination of cost
  1463. 37Paragraph 37
  1464. 38Substitution of original amount where price or cost unknown
  1465. ALTERNATIVE ACCOUNTING RULES
  1466. Preliminary
  1467. 39Paragraph 39
  1468. 40Paragraph 40
  1469. Alternative accounting rules
  1470. 41Paragraph 41
  1471. Application of the depreciation rules
  1472. 42Paragraph 42
  1473. Additional information to be provided in case of departure from historical cost accounting rules
  1474. 43Paragraph 43
  1475. Revaluation reserve
  1476. 44Paragraph 44
  1477. FAIR VALUE ACCOUNTING
  1478. Inclusion of financial instruments at fair value
  1479. 44AParagraph 44A
  1480. Determination of fair value
  1481. 44BParagraph 44B
  1482. Inclusion of hedged items at fair value
  1483. 44CParagraph 44C
  1484. Other assets that may be included at fair value
  1485. 44DParagraph 44D
  1486. Accounting for changes in value
  1487. 44EParagraph 44E
  1488. The fair value reserve
  1489. 44FParagraph 44F
  1490. ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES
  1491. 45Paragraph 45
  1492. 46Paragraph 46
  1493. CHAPTER IIINOTES TO THE ACCOUNTS
  1494. Preliminary
  1495. 47Paragraph 47
  1496. General
  1497. 48Disclosure of accounting policies
  1498. 49Paragraph 49
  1499. 50Sums denominated in foreign currencies
  1500. 50AReserves and dividends
  1501. Information supplementing the balance sheet
  1502. 51Share capital and debentures
  1503. 52Paragraph 52
  1504. 53Paragraph 53
  1505. 54Paragraph 54
  1506. 55Fixed assets
  1507. 56Paragraph 56
  1508. 57Paragraph 57
  1509. 58Paragraph 58
  1510. 58AInformation about fair value of assets and liabilities
  1511. 58BParagraph 58B
  1512. 58CParagraph 58C
  1513. 58DInformation where investment property and living animals and plants included at fair value
  1514. 59Reserves and provisions
  1515. 60Provision for taxation
  1516. 61Maturity analysis
  1517. 62Debt and other fixed income securities
  1518. 63Subordinated liabilities
  1519. 64Fixed cumulative dividends
  1520. 65Details of assets charged
  1521. 66Guarantees and other financial commitments
  1522. 67Memorandum items: Group undertakings
  1523. 68Transferable securities
  1524. 69Leasing transactions
  1525. 70Assets and liabilities denominated in a currency other than sterling (or the currency in which the accounts are drawn up)
  1526. 71Sundry assets and liabilities
  1527. 72Unmatured forward transactions
  1528. 73Miscellaneous matters
  1529. Information supplementing the profit and loss account
  1530. 75Particulars of tax
  1531. 76Particulars of income
  1532. 78Management and agency services
  1533. 79Subordinated liabilities
  1534. 80Sundry income and charges
  1535. 81Miscellaneous matters
  1536. INTERPRETATION OF PART I
  1537. 82General
  1538. 82AFinancial instruments
  1539. 82BParagraph 82B
  1540. 83Loans
  1541. 84Materiality
  1542. 85Provisions
  1543. 86Staff costs
  1544. IICONSOLIDATED ACCOUNTS
  1545. 5Foreign currency translation
  1546. 6Paragraph 6
  1547. 7Information as to undertaking in which shares held as a result of financial assistance operation
  1548. Part III: ADDITIONAL DISCLOSURE: RELATED UNDERTAKINGS
  1549. 1Paragraph 1
  1550. Part IV: ADDITIONAL DISCLOSURE: EMOLUMENTS AND OTHER BENEFITS OF DIRECTORS AND OTHERS
  1551. 1Paragraph 1
  1552. 2Loans, quasi-loans and other dealings
  1553. 3Other transactions, arrangements and agreements
  1554. Schedule 9A: Form and Content of Accounts of Insurance Companies and Groups
  1555. Part 1: INDIVIDUAL ACCOUNTS
  1556. CHAPTER 1GENERAL RULES AND FORMATS
  1557. SECTION A
  1558. GENERAL RULES
  1559. 1Paragraph 1
  1560. 2Paragraph 2
  1561. 3Paragraph 3
  1562. 4Paragraph 4
  1563. 6Paragraph 6
  1564. 6AParagraph 6A
  1565. SECTION BTHE REQUIRED FORMATS FOR ACCOUNTS
  1566. Preliminary
  1567. 7Paragraph 7
  1568. 8Paragraph 8
  1569. 9Paragraph 9
  1570. Balance Sheet Format
  1571. AParagraph A
  1572. BParagraph B
  1573. CParagraph C
  1574. IParagraph I
  1575. IIParagraph II
  1576. IIIParagraph III
  1577. IVParagraph IV
  1578. DParagraph D
  1579. DaParagraph Da
  1580. EParagraph E
  1581. IParagraph I
  1582. IIParagraph II
  1583. IIIParagraph III
  1584. IVParagraph IV
  1585. FParagraph F
  1586. IParagraph I
  1587. IIParagraph II
  1588. IIIParagraph III
  1589. IVParagraph IV
  1590. VParagraph V
  1591. GParagraph G
  1592. IParagraph I
  1593. IIParagraph II
  1594. IIIParagraph III
  1595. AParagraph A
  1596. IParagraph I
  1597. IIParagraph II
  1598. IIIParagraph III
  1599. IVParagraph IV
  1600. VParagraph V
  1601. BParagraph B
  1602. BaParagraph Ba
  1603. CParagraph C
  1604. DParagraph D
  1605. EParagraph E
  1606. FParagraph F
  1607. GParagraph G
  1608. IParagraph I
  1609. IIParagraph II
  1610. IIIParagraph III
  1611. IVParagraph IV
  1612. VParagraph V
  1613. HParagraph H
  1614. Notes on the Balance Sheet Format
  1615. 1Paragraph 1
  1616. 2Paragraph 2
  1617. 4Paragraph 4
  1618. 5Paragraph 5
  1619. 6Paragraph 6
  1620. 7Paragraph 7
  1621. 8Paragraph 8
  1622. 9Paragraph 9
  1623. 10Paragraph 10
  1624. 11Paragraph 11
  1625. 12Paragraph 12
  1626. 13Paragraph 13
  1627. 14Paragraph 14
  1628. 15Paragraph 15
  1629. 16Paragraph 16
  1630. 17Paragraph 17
  1631. 18Paragraph 18
  1632. 19Paragraph 19
  1633. 20Paragraph 20
  1634. 21Paragraph 21
  1635. 22Paragraph 22
  1636. 23Paragraph 23
  1637. 24Paragraph 24
  1638. 25Paragraph 25
  1639. 26Paragraph 26
  1640. 27Paragraph 27
  1641. 28Paragraph 28
  1642. 29Paragraph 29
  1643. Special Rules for Balance Sheet Format
  1644. 10Additional items
  1645. 11Managed funds
  1646. 12Deferred acquisition costs
  1647. Profit and loss account format
  1648. IParagraph I
  1649. IIParagraph II
  1650. IIIParagraph III
  1651. Notes on the profit and loss account format
  1652. CHAPTER IIACCOUNTING PRINCIPALS AND RULES
  1653. SECTION AACCOUNTING PRINICPLES
  1654. Preliminary
  1655. 13Paragraph 13
  1656. Accounting principles
  1657. 14Paragraph 14
  1658. 15Paragraph 15
  1659. 16Paragraph 16
  1660. 17Paragraph 17
  1661. 18Paragraph 18
  1662. Departure from accounting principles
  1663. 19Paragraph 19
  1664. Valuation
  1665. 19AParagraph 19A
  1666. SECTION BCURRENT VALUE ACCOUNTING RULES
  1668. Valuation of assets: general
  1669. 22Paragraph 22
  1670. 23Paragraph 23
  1671. Alternative valuation of fixed-income securities
  1672. 24Paragraph 24
  1673. Meaning of “ current value ”
  1674. 25Paragraph 25
  1675. 26Paragraph 26
  1676. Application of the depreciation rules
  1677. 27Paragraph 27
  1678. Additional information to be provided
  1679. 28Paragraph 28
  1680. Revaluation reserve
  1681. 29Paragraph 29
  1682. SECTION BAVALUATION AT FAIR VALUE
  1683. Inclusion of financial instruments at fair value
  1684. 29AParagraph 29A
  1685. Determination of fair value
  1686. 29BParagraph 29B
  1687. Inclusion of hedged items at fair value
  1688. 29CParagraph 29C
  1689. Other assets that may be included at fair value
  1690. 29DParagraph 29D
  1691. Accounting for changes in value
  1692. 29EParagraph 29E
  1693. The fair value reserve
  1694. 29FParagraph 29F
  1695. SECTION CHISTORICAL COST ACCOUNTING RULES
  1697. Valuation of assets
  1698. 31General rules
  1699. 32Paragraph 32
  1700. 33Paragraph 33
  1701. 34Paragraph 34
  1702. 35Development costs
  1703. 36Goodwill
  1704. Miscellaneous and supplemental
  1705. 37Excess of money owed over value received as an asset item
  1706. 38Assets included at a fixed amount
  1707. 39Determination of cost
  1708. 40Paragraph 40
  1709. 41Substitution of original amount where price or cost unknown
  1710. RULES FOR DETERMINING PROVISIONS
  1711. 42Preliminary
  1712. 43Technical provisions
  1713. 44Provision for unearned premiums
  1714. 45Provision for unexpired risks
  1715. 46Long term business provision
  1716. Provisions for claims outstanding
  1717. 47General business
  1718. 48Paragraph 48
  1719. 49Long term business
  1720. 50Equalisation reserves
  1721. 51Accounting on a non-annual basis
  1722. 52Paragraph 52
  1723. 53Paragraph 53
  1724. Part CHAPTER III: NOTES TO THE ACCOUNTS
  1725. Preliminary
  1726. 54Paragraph 54
  1727. General
  1728. 55Disclosure of accounting policies
  1729. 56Paragraph 56
  1730. 57Sums denominated in foreign currencies
  1731. Reserves and dividends
  1732. 57AParagraph 57A
  1733. Information supplementing the balance sheet
  1734. 58Share capital and debentures
  1735. 59Paragraph 59
  1736. 60Paragraph 60
  1737. 61Paragraph 61
  1738. 62Assets
  1739. 63Paragraph 63
  1740. 64Paragraph 64
  1741. 65Investments
  1742. 65AInformation about fair value of assets and liabilities
  1743. 65BParagraph 65B
  1744. 65CParagraph 65C
  1745. 65DInformation where investment property and living animals and plants included at fair value
  1746. 66Reserves and provisions
  1747. 67Provision for taxation
  1748. 68Details of indebtedness
  1749. 69Paragraph 69
  1750. 70Guarantees and other financial commitments
  1751. 72Miscellaneous matters
  1752. Information supplementing the profit and loss account
  1753. 73Separate statement of certain items of income and expenditure
  1754. 74Particulars of tax
  1755. 75Particulars of business
  1756. 76Paragraph 76
  1757. 77Paragraph 77
  1758. 78Commissions
  1759. 80Miscellaneous matters
  1760. INTERPRETATION OF PART I
  1761. 81General
  1762. 81AFinancial instruments
  1763. 81BParagraph 81B
  1764. 82Loans
  1765. 83Materiality
  1766. 84Provisions
  1767. 85Staff costs
  1768. Part II: CONSOLIDATED ACCOUNTS
  1769. 1Schedule 4A to apply Part I of this Schedule with modifications
  1770. 2Modifications of Part I of this Schedule for purposes of paragraph 1
  1771. Schedule Schedule
  1772. Schedule 10A: PARENT AND SUBSIDIARY UNDERTAKINGS: SUPPLEMENTARY PROVISIONS
  1773. Introduction
  1774. 1Paragraph 1
  1775. Voting rights in an undertaking
  1776. 2Paragraph 2
  1777. Right to appoint or remove a majority of the directors
  1778. 3Paragraph 3
  1779. Right to exercise dominant influence
  1780. 4Paragraph 4
  1781. Rights exercisable only in certain circumstances or temporarily incapable of exercise
  1782. 5Paragraph 5
  1783. Rights held by one person on behalf of another
  1784. 6Paragraph 6
  1785. 7Paragraph 7
  1786. Rights attached to shares held by way of security
  1787. 8Paragraph 8
  1788. Rights attributed to parent undertaking
  1789. 9Paragraph 9
  1790. Disregard of certain rights
  1791. 10Paragraph 10
  1792. Supplementary
  1793. 11Paragraph 11
  1794. Schedule 11
  1795. 1Paragraph 1
  1796. Modifications where accounts prepared in accordance with special provisions for banking companies
  1797. 2Paragraph 2
  1798. 3Paragraph 3
  1799. 4Paragraph 4
  1800. 5Paragraph 5
  1801. 6Paragraph 6
  1802. Modifications where accounts prepared in accordance with special provisions for insurance companies
  1803. 7Paragraph 7
  1804. 8Paragraph 8
  1805. 9Paragraph 9
  1806. 10Paragraph 10
  1807. 11Paragraph 11
  1808. Schedule Schedule
  1809. Schedule 13: PROVISIONS SUPPLEMENTING AND INTERPRETING ARTICLES 332 TO 336
  1810. Part I: RULES FOR INTERPRETATION OF THOSE ARTICLES AND ALSO ARTICLE 354(4) AND (5)
  1811. 1Paragraph 1
  1812. 2Paragraph 2
  1813. 3Paragraph 3
  1814. 4Paragraph 4
  1815. 5Paragraph 5
  1816. 6Paragraph 6
  1817. 7Paragraph 7
  1818. 8Paragraph 8
  1819. 9Paragraph 9
  1820. 10Paragraph 10
  1821. 11Paragraph 11
  1822. 12Paragraph 12
  1823. Part II: PERIODS WITHIN WHICH OBLIGATIONS IMPOSED BY ARTICLE 332 MUST BE FULFILLED
  1824. 13Paragraph 13
  1825. 14Paragraph 14
  1826. 15Paragraph 15
  1827. Part III: CIRCUMSTANCES IN WHICH OBLIGATION IMPOSED BY ARTICLE 332 IS NOT DISCHARGED
  1828. 16Paragraph 16
  1829. 17Paragraph 17
  1830. 18Paragraph 18
  1831. 19Paragraph 19
  1832. Part IV: PROVISIONS WITH RESPECT TO REGISTER OF DIRECTORS' INTERESTS TO BE KEPT UNDER ARTICLE 333
  1833. 20Paragraph 20
  1834. 21Paragraph 21
  1835. 22Paragraph 22
  1836. 23Paragraph 23
  1837. 24Paragraph 24
  1838. 25Paragraph 25
  1839. 26Paragraph 26
  1840. 27Paragraph 27
  1841. 28Paragraph 28
  1842. Schedule 14: EXTERNAL BRANCH REGISTERS
  1843. ICOUNTRIES AND TERRITORIES IN WHICH EXTERNAL BRANCH REGISTER MAY BE KEPT
  1844. Part II: GENERAL PROVISIONS WITH RESPECT TO EXTERNAL BRANCH REGISTERS
  1845. 1Paragraph 1
  1846. 2Paragraph 2
  1847. 3Paragraph 3
  1848. 4Paragraph 4
  1849. 5Paragraph 5
  1850. 6Paragraph 6
  1851. 7Paragraph 7
  1852. Schedule Schedule
  1853. Schedule 15A: WRITTEN RESOLUTIONS OF PRIVATE COMPANIES
  1854. Part I: EXCEPTIONS
  1855. 1Paragraph 1
  1856. Part II: ADAPTATION OF PROCEDURAL REQUIREMENTS
  1857. Introductory
  1858. 2Paragraph 2
  1859. Article 105 (disapplication of pre-emption rights)
  1860. 3Paragraph 3
  1861. Article 165 (financial assistance for purchase of company's own shares or those of holding company)
  1862. 4Paragraph 4
  1863. Articles 174, 175 and 177 (authority for off-market purchase or contingent purchase contract of company's own shares)
  1864. 5Paragraph 5
  1865. Article 183 (approval for payment out of capital)
  1866. 6Paragraph 6
  1867. Article 327 (approval of director's service contract)
  1868. 7Paragraph 7
  1869. Article 345 (funding of director's expenditure in performing his duties)
  1870. 8Paragraph 8
  1871. Schedule 15B
  1872. 1Meeting of transferee company
  1873. 2Draft terms of merger
  1874. 3Documents and information to be made available
  1875. 4Directors' report
  1876. 5Expert's report
  1877. 6Inspection of documents
  1878. 7Transferor company holding its own shares
  1879. 8Securities other than shares to which special rights are attached
  1880. 9Date and consequences of the compromise or arrangement
  1881. 10Exceptions
  1882. 11Paragraph 11
  1883. 12Transferee company or companies holding shares in the transferor company
  1884. 13Paragraph 13
  1885. 14Paragraph 14
  1886. 15Liability of transferee companies for the default of another
  1887. Schedule Schedule
  1888. Schedule Schedule
  1889. Schedule 20: EFFECT OF REGISTRATION UNDER ARTICLE 629
  1890. Interpretation
  1891. 1Paragraph 1
  1892. Vesting of property
  1893. 2Paragraph 2
  1894. Existing liabilities
  1895. 3Paragraph 3
  1896. Pending actions at law
  1897. 4Paragraph 4
  1898. The company's constitution
  1899. 5Paragraph 5
  1900. 6Paragraph 6
  1901. Capital structure
  1902. 7Paragraph 7
  1903. Supplementary
  1904. 8Paragraph 8
  1905. 9Paragraph 9
  1906. Schedule 20A: Branch Registration under the Eleventh Company Law Directive (89/666/EEC)
  1907. 1Duty to Register
  1908. 2Particulars required
  1909. 3Paragraph 3
  1910. 4Paragraph 4
  1911. 5Documents required
  1912. 6Paragraph 6
  1913. 7Alterations
  1914. 8Paragraph 8
  1915. Schedule 20B: Change in Registration Regime: Transitional Provisions
  1916. 1Paragraph 1
  1917. 2Paragraph 2
  1918. Schedule 20C: Delivery of Reports and Accounts: Credit and Financial Institutions to which The Bank Branches Directive (89/117/EEC) applies
  1919. Part I: INSTITUTIONS REQUIRED TO PREPARE ACCOUNTS UNDER PARENT LAW
  1920. 1Scope of Part
  1921. 2Duty to deliver copies in Northern Ireland
  1922. 3Paragraph 3
  1923. 5Paragraph 5
  1924. 6Penalty for non-compliance
  1925. 7Interpretation
  1926. Part II: INSTITUTIONS NOT REQUIRED TO PREPARE ACCOUNTS UNDER PARENT LAW
  1927. Scope of Part
  1928. 8Paragraph 8
  1929. Preparation of accounts and reports
  1930. 9Paragraph 9
  1931. 10Paragraph 10
  1932. Duty to deliver accounts and reports
  1933. 11Paragraph 11
  1934. Time for delivery
  1935. 12Paragraph 12
  1936. Penalty for non-compliance
  1937. 13Paragraph 13
  1938. Schedule 20D: Delivery of Reports and Accounts: Companies to which the Eleventh Company Law Directive applies
  1939. Part I: COMPANIES REQUIRED TO MAKE DISCLOSURE UNDER PARENT LAW
  1940. 1Scope of Part
  1941. 2Duty to deliver copies in Northern Ireland
  1942. 3Paragraph 3
  1943. 4Time for delivery
  1944. 5Penalty for non-compliance
  1945. 6Interpretation
  1946. Part II: COMPANIES NOT REQUIRED TO MAKE DISCLOSURE UNDER PARENT LAW
  1947. 7Scope of Part
  1948. 8Preparation of accounts and reports
  1949. 9Paragraph 9
  1950. 10Duty to delivery accounts and reports
  1951. 11Paragraph 11
  1952. 12Time for delivery
  1953. 13Penalty for non-compliance
  1954. Schedule 21PROVISIONS OF THIS ORDER APPLYING TO UNREGISTERED COMPANIES
  1955. Schedule 22Schedule 22
  1956. Schedule 23PUNISHMENT OF OFFENCES UNDER THIS ORDER
  1957. Schedule 24: ARTICLE 39 OF THE ORDER OF 1982, AS ORIGINALLY ENACTED
  1958. 39Relief from section 56 in respect of group reconstructions