Paragraph 7 I1

during an accounting reference period of the transferee company which includes a transfer date; or

before any accounts are laid or filed in respect of such a period.

references in F3section 836 to the company’s accounts and to accounts relevant under that section, and

references in F4section 839 to initial accounts,

that the relevant year was a financial year of the transferee company;

that the vesting of property, rights and liabilities in accordance with the relevant scheme was effected immediately after the beginning of that year;

that so much of the relevant scheme as contains provision by or under which there is a determination of the value of an asset to which the company becomes entitled in accordance with the scheme has effect for determining the value of that asset for the purposes of the accounts in question;

that so much of the relevant scheme as contains provision by or under which there is a determination of the amount of a liability to which the company becomes subject in accordance with the scheme has effect for determining the amount of that liability for the purposes of the accounts in question;

that securities of the transferee company issued or allotted before the declaration of the distribution had been issued or allotted before the end of the relevant year; and

such other assumptions as may appear to the directors of the transferee company to be necessary or expedient for the purposes of this paragraph.