Paragraph 32 Assets and liabilities denominated in foreign currenciesI1
United Kingdom
The provisions of this Schedule which relate to long term business apply, with necessary modifications, to business within Classes 1 and 2 of Head B of Schedule 2 to the Act which:
(a)
is transacted exclusively or principally according to the technical principles of long term business; and
(b)
is a significant amount of the business of the society.
Annotations
Commencement
- I1
Sch. 6 para. 32 in force at 1.9.1994, see reg. 1