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Regulation 3 Currency

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

For the purposes of these Regulations the currency with which a company computes its profits and losses as determined by sections 92 to 92Ef1 of the Finance Act 1993f2 shall be known as the “base currency”.

Annotations

Footnotes

f1

Sections 92 to 92E were substituted for former sections 92 to 94AB by paragraph 77 of Schedule 10 to the Finance Act 2004 with effect for periods of account beginning on or after 1st January 2005 and, in the case of a company required to prepare accounts under the Companies Act 1985 or the Companies Act (Northern Ireland) Order 1986, any period of account beginning before that date for which the company is required or permitted to prepare such accounts in accordance with international accounting standards.

f2

1993 c. 34.