Regulation 53.

1. Subject to the following provisions of this Schedule -

(a) every balance sheet must show each of the line items required to be included in a balance sheet in accordance with international accounting standards;

(b) every profit and loss account must show each of the line items required to be included in a profit and loss account in accordance with international accounting standards;

(c) every balance sheet and profit and loss account must clearly indicate in what currency it is prepared.

2.

(1) The institution’s directors must use the same line items in preparing overseas institutions individual accounts for each financial year, unless in their opinion there are special reasons for a change.

(2) Particulars of any such change must be given in a note to the accounts in which the new line item is first used, and the reasons for the change must be explained.

3. Where the institution’s directors consider it appropriate, the balance sheet or the profit and loss account may show a combination of line items where they are of a similar nature.

4.

(1) Items that are not of a similar nature or function shall be presented separately unless they are not material.