{
  "url": "https://openlegislation.uk/draft-small-limited-liability-partnerships-accounts-regulations-2008/schedule-1/paragraph-37",
  "json_url": "https://openlegislation.uk/draft-small-limited-liability-partnerships-accounts-regulations-2008/schedule-1/paragraph-37.json",
  "legislation": "ukdsi/2008/9780110818344",
  "legislation_title": "The Small Limited Liability Partnerships (Accounts) Regulations 2008",
  "legislation_url": "https://openlegislation.uk/draft-small-limited-liability-partnerships-accounts-regulations-2008",
  "path": "schedule/1/paragraph/37",
  "kind": "paragraph",
  "number": "37",
  "heading": "Determination of fair value",
  "text": "(1) The fair value of a financial instrument is its value determined in accordance with this paragraph.\n(2) If a reliable market can readily be identified for the financial instrument, its fair value is to be determined by reference to its market value.\n(3) If a reliable market cannot readily be identified for the financial instrument but can be identified for its components or for a similar instrument, its fair value is determined by reference to the market value of its components or of the similar instrument.\n(4) If neither sub-paragraph (2) nor (3) applies, the fair value of the financial instrument is a value resulting from generally accepted valuation models and techniques.\n(5) Any valuation models and techniques used for the purposes of sub-paragraph (4) must ensure a reasonable approximation of the market value.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2008/9780110818344/schedule/1/paragraph/37",
    "retrieved_at": "2026-10-30T15:16:10.183944+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."
}