{
  "url": "https://openlegislation.uk/investment-trusts-approval-of-accounting-methods-for-creditor-relationships-order-2001/note",
  "json_url": "https://openlegislation.uk/investment-trusts-approval-of-accounting-methods-for-creditor-relationships-order-2001/note.json",
  "legislation": "uksi/2001/391",
  "legislation_title": "The Investment Trusts (Approval of Accounting Methods for Creditor Relationships) Order 2001",
  "legislation_url": "https://openlegislation.uk/investment-trusts-approval-of-accounting-methods-for-creditor-relationships-order-2001",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order approves the use of two accounting methods for the creditor relationships of investment trusts, for the purposes of paragraph 1 of Schedule 10 to the Finance Act 1996.\nThe first such method is that contained in a Statement of Recommended Practice issued by the Association of Investment Trusts, with the modifications provided for by the Order. The Statement has the title “Statement of Recommended Practice: Financial Statements of investment trust companies”, bears the date December 1995 and is published by The Association of Investment Trust Companies, Durrant House, 8-13 Chiswell Street, London EC1Y 4YY.\nThe second such method is the method contained in that Statement, as varied by a Guidance Note issued by the Association of Investment Trusts on 8th January 1997, with the same modifications. The Guidance Note has the same title as the Statement, with the sub-title “Recognition of Income” and is published by the same Association.\nArticle 1 provides for citation, commencement and effect.\nArticle 2 provides for interpretation.\nArticle 3 approves the use of the two accounting methods referred to above, as modified by Article 4.\nArticle 4 prescribes technical modifications to the accounting methods.\nArticle 5 prescribes the purposes for which the accounting methods are approved.\nParagraph 1(4) of Schedule 10 to the Finance Act 1996 confers the power to make the retrospective provision made by Article 1 of the Order.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/391/note",
    "retrieved_at": "2026-10-29T08:04:24.812206+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."
}