{
  "url": "https://openlegislation.uk/draft-companies-partnerships-and-groups-accounts-and-reports-regulations-2015/regulation-40",
  "json_url": "https://openlegislation.uk/draft-companies-partnerships-and-groups-accounts-and-reports-regulations-2015/regulation-40.json",
  "legislation": "ukdsi/2015/9780111130230",
  "legislation_title": "The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015",
  "legislation_url": "https://openlegislation.uk/draft-companies-partnerships-and-groups-accounts-and-reports-regulations-2015",
  "path": "regulation/40",
  "kind": "regulation",
  "number": "40",
  "heading": "Amendment of Schedule 9 (interpretation of term “provisions”) to the Large and Medium-sized Companies Accounts Regulations",
  "text": "After paragraph 2 of Schedule 9 to the Large and Medium-sized Companies Accounts Regulations, insert—\n“2A. At the balance sheet date, a provision must represent the best estimate of the expenses likely to be incurred or, in the case of a liability, of the amount required to meet that liability.\n2B. Provisions must not be used to adjust the value of assets.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2015/9780111130230/regulation/40",
    "retrieved_at": "2026-10-30T15:09:57.630861+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}