SCHEDULE 3INSURANCE COMPANIES: COMPANIES ACT INDIVIDUAL ACCOUNTS
PART 2ACCOUNTING PRINCIPLES AND RULES
SECTION CVALUATION AT FAIR VALUE
The fair value reserve35
1
The fair value reserve must be adjusted to the extent that the amounts shown in it are no longer necessary for the purposes of paragraph 34(3) or (4).
2
The treatment for taxation purposes of amounts credited or debited to the fair value reserve must be disclosed in a note to the accounts.