Article 3 Approval of the use of accounting methods

The accounting methods that are approved for use for the creditor relationships of investment trusts for the purposes of paragraph 1 of Schedule 10 are—

(a)

the method (“the main method”) contained in a Statement of Recommended Practice issued by the Association of Investment Trust Companies bearing the date December 1995 (“the Statement”)^f1, as modified by article 4 of this Order;

(b)

the method contained in the Statement as varied by a Guidance Note issued by that Association on 8th January 1997 (“the simple method”)^f2, and as modified by article 4.

Annotations

Footnotes

f1: See the Explanatory Note for details of where the Statement and Guidance Note can be obtained.
f2: See the Explanatory Note for details of where the Statement and Guidance Note can be obtained.