# The Companies (Northern Ireland) Order 1986 (revoked), Article 119: Valuation and report (Article 114)

Extent: N.I.

(1) Article 118(1) to (3) and (5) applies also as respects the valuation and report for the purposes of Article 114.
(2) The valuer's report for those purposes shall—
(a) state the consideration to be received by the company, describing the asset in question (specifying the amount to be received in cash) and the consideration to be given by the company (specifying the amount to be given in cash);
(b) state the method and date of valuation;
(c) contain or be accompanied by a note as to the matters mentioned in Article 118(6)(a) to (c); and
(d) contain or be accompanied by a note that on the basis of the valuation the value of the consideration to be received by the company is not less than the value of the consideration to be given by it.
(3) A reference in Article 114 or this Article to consideration given for the transfer of an asset includes consideration given partly for its transfer; but—
(a) the value of any consideration partly so given is to be taken as the proportion of the consideration properly attributable to its transfer;
(b) the valuer shall carry out or arrange for such valuations of anything else as will enable him to determine that proportion; and
(c) his report for the purposes of Article 114 shall state what valuation has been made under this paragraph and also the reason for, and method and date of, any such valuation and any other matters which may be relevant to that determination.

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Source: https://www.legislation.gov.uk/nisi/1986/1032/article/119 (the official version)
Page: https://openlegislation.uk/companies-northern-ireland-order-1986-revoked/article-119
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.