101 Securitisation companies
Finance Act 2006 (2006 c 25) | Legislation

Accounting practice

101  Securitisation companies

(1)     Section 83 of FA 2005 (application of accounting standards to securitisation companies) is amended as follows.

(2)     In subsection (1)(b) (periods of account in relation to which old UK GAAP is to apply) for “1st January 2007” substitute “1st January 2008”.

(3)     In subsection (3) (meaning of “note-issuing company”)—

(a)     omit “and” at the end of paragraph (c);

(b)     after paragraph (d) insert—

“, and

(e)     if it has any business

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