{
  "url": "https://openlegislation.uk/insurance-companies-accounts-and-statements-regulations-1996/schedule-1/paragraph-5",
  "json_url": "https://openlegislation.uk/insurance-companies-accounts-and-statements-regulations-1996/schedule-1/paragraph-5.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": "schedule/1/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": "Currency",
  "text": "(1) The amount of any income or expenditure shall be expressed in sterling using such bases of conversion as are in accordance with generally accepted accounting practice.\n(2) The bases of conversion adopted shall be stated by way of supplementary note to Form 16 or, if there is no Form 16, by way of supplementary note to Form 40.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "amended",
      "affecting": "uksi/1997/2911",
      "affecting_title": "The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1997"
    },
    {
      "type": "amended",
      "affecting": "uksi/1998/2996",
      "affecting_title": "The Insurance Companies (Amendment) Regulations 1998"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/943/schedule/1/paragraph/5",
    "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."
}