# The Overseas Companies Regulations 2009, Paragraph 7: Elimination of group transactions


(1) An acquisition must be accounted for—
(a) by the acquisition method of accounting, or
(b) if the generally accepted accounting principles under which the accounts have been prepared allow it to be accounted for by another method, by that method.
(2) If an acquisition is accounted for in accordance with sub-paragraph (1)(b), the method used must be disclosed in the notes to the accounts.

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Source: https://www.legislation.gov.uk/ukdsi/2009/9780111479476/schedule/7/paragraph/7 (the official version)
Page: https://openlegislation.uk/draft-overseas-companies-regulations-2009/schedule-7/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.