{
  "url": "https://openlegislation.uk/friendly-societies-accounts-and-related-provisions-regulations-1994/schedule-6/paragraph-24E",
  "json_url": "https://openlegislation.uk/friendly-societies-accounts-and-related-provisions-regulations-1994/schedule-6/paragraph-24E.json",
  "legislation": "uksi/1994/1983",
  "legislation_title": "The Friendly Societies (Accounts and Related Provisions) Regulations 1994",
  "legislation_url": "https://openlegislation.uk/friendly-societies-accounts-and-related-provisions-regulations-1994",
  "path": "schedule/6/paragraph/24E",
  "kind": "paragraph",
  "number": "24E",
  "heading": "Accounting for changes in value of financial instruments",
  "text": "(1) This paragraph applies where a financial instrument is valued in accordance with paragraph 24A or 24C.\n(2) Notwithstanding paragraph 4 of Part I of this Schedule, and subject to sub-paragraphs (3) and (4) below, a change in the value of the financial instrument shall be included in the income and expenditure account.\n(3) Where–\n(a) the financial instrument accounted for is a hedging instrument under a hedge accounting system that allows some or all of the change in value not to be shown in the income and expenditure account; or\n(b) the change in value relates to an exchange difference arising on a monetary item that forms part of a society’s net investment in a foreign entity,\nthe amount of change in value shall be credited to or (as the case may be) debited from a separate reserve (“the fair value reserve”).\n(4) Where the instrument accounted for–\n(a) is an available-for-sale financial asset; and\n(b) is not a derivative financial instrument,\nthe difference in value may be credited to or (as the case may be) debited from the fair value reserve.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 6 Pt. 4A inserted (1.10.2005 with effect as respects financial years which begin on or after 1.1.2005 and end on or after October 2005) by The Friendly Societies (Accounts and Related Provisions) (Amendment) Regulations 2005 (S.I. 2005/2210), regs. 1(2), 5"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1994/1983/schedule/6/paragraph/24E",
    "retrieved_at": "2026-10-29T13:28:41.237812+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."
}