{
  "url": "https://openlegislation.uk/finance-act-2011/schedule-7/paragraph-1",
  "json_url": "https://openlegislation.uk/finance-act-2011/schedule-7/paragraph-1.json",
  "legislation": "ukpga/2011/11",
  "legislation_title": "Finance Act 2011",
  "legislation_url": "https://openlegislation.uk/finance-act-2011",
  "path": "schedule/7/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": null,
  "text": "(1) Section 6 of CTA 2010 (UK resident company operating in sterling and preparing accounts in another currency) is amended as follows.\n(2) In subsection (1), after “company” insert “ (other than a UK resident investment company) ”.\n(3) After that subsection insert—\n“(1A) This section also applies if, for a period of account, a UK resident investment company—\n(a) in accordance with generally accepted accounting practice, prepares its accounts in a currency other than sterling, and\n(b) either—\n(i) has sterling as its designated currency for that period of account (see sections 9A and 9B), or\n(ii) if it does not have a designated currency for that period, in those accounts identifies sterling as its functional currency in accordance with generally accepted accounting practice.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2011/11/schedule/7/paragraph/1",
    "retrieved_at": "2026-10-29T09:09:31.813616+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."
}