94 Accounting provisions
Railways Act 1993 (1993 c 43) | Legislation

94  Accounting provisions

(1)ÌýÌýÌýÌý This section applies where any property, rights or liabilities are transferred by virtue of a transfer scheme between—

(a)ÌýÌýÌýÌý the Board and any company which, at the time of the transfer, is either—

(i)ÌýÌýÌýÌý a wholly owned subsidiary of the Board; or

(ii)ÌýÌýÌýÌý wholly owned by the Crown; or

(b)ÌýÌýÌýÌý any two companies which, at the time of the transfer, fall within paragraph (a) above.

(2)ÌýÌýÌýÌý Where this section applies, the transfer scheme may state—

(a)ÌýÌýÌýÌý the value at which any asset transferred to the transferee by virtue of the scheme is to be entered in the opening accounts of the transferee; or

(b)ÌýÌýÌýÌý the amount at which any liability so transferred is to be entered in those accounts.

(3)ÌýÌýÌýÌý The value or amount (if any) stated by virtue of subsection (2) above shall be—

(a)

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