Paragraph 87

(1)

Subject to sub-paragraph (2), there must be disclosed as regards both general and long- term business the total gross direct insurance premiums resulting from contracts concluded by the company—

F1(a)

in the country in which its head office is located, and

F2(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)

in other countries.

(2)

Disclosure of any amount referred to in sub-paragraph (1) is not required if it does not exceed 5 per cent of total gross premiums.

Annotations

Textual amendments

F1: Sch. 3 para. 87(1)(a) substituted (31.12.2020 with effect in relation to financial years beginning on or after IP completion day) by The Accounts and Reports (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/145), regs. 1(2)(b), 2, Sch. 3 para. 4(b)(i) (with reg. 7(2)) (as amended by S.I. 2020/523, regs. 1(2), 10, 11); 2020 c. 1, Sch. 5 para. 1(1)
F2: Sch. 3 para. 87(1)(b) omitted (31.12.2020 with effect in relation to financial years beginning on or after IP completion day) by virtue of The Accounts and Reports (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/145), regs. 1(2)(b), 2, Sch. 3 para. 4(b)(ii) (with reg. 7(2)) (as amended by S.I. 2020/523, regs. 1(2), 10, 11); 2020 c. 1, Sch. 5 para. 1(1)

Notes on Information supplementing the profit and loss account

Marginal citations

M1: See regulation 6(2) for exemption for companies falling within section 408 of the 2006 Act (individual profit and loss account where group accounts prepared).