{
  "url": "https://openlegislation.uk/insurance-companies-accounts-and-statements-regulations-1996/regulation-8",
  "json_url": "https://openlegislation.uk/insurance-companies-accounts-and-statements-regulations-1996/regulation-8.json",
  "legislation": "uksi/1996/943",
  "legislation_title": "The Insurance Companies (Accounts and Statements) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/insurance-companies-accounts-and-statements-regulations-1996",
  "path": "regulation/8",
  "kind": "regulation",
  "number": "8",
  "heading": "Revenue account",
  "text": "The revenue account to be prepared by every company under section 17(1) of the Act—\n(a) in the case of a company carrying on general business, shall comply with the requirements of Schedule 2 below and shall be in Form 20 so, however, that every such company shall prepare a separate account in Form 20 in respect of each accounting class and a summary account in that Form in respect of the whole of the general business carried on by it; and\n(b) in the case of a company carrying on long term business, shall comply with the requirements of Schedule 3 below and shall be in Form 40 so, however, that—\n(i) every such company shall prepare a separate account in Form 40 in respect of each long term business fund maintained by it; and\n(ii) where there is more than one fund for ordinary long term insurance business or for industrial assurance business, the company shall also prepare a summary Form 40 for ordinary long term insurance business or for industrial assurance business, as the case may require.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/943/regulation/8",
    "retrieved_at": "2026-10-29T12:46:26.922464+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."
}