(1) Paragraph 22 of this Schedule shall not apply to the amount of any profit or loss arising from a determination of the value of any investments of an investment company on any basis mentioned in paragraph 19(3) of this Schedule.
(2) Any provisions made by virtue of subparagraph (1) or (2) of paragraph 7 of this Schedule in the case of an investment company in respect of any fixed asset investments need not be charged to the company's profit and loss account if they are either -
(a) charged against any reserve account to which any amount excluded by subparagraph (1) of this paragraph from the requirements of the said paragraph 22 has been credited, or
(b) shown as a separate item in the company's balance sheet under the sub-heading "other reserves".
(3) For the purposes of this paragraph as it applies in relation to any company, "fixed asset investment" means any asset falling to be included under any item shown in the company' balance sheet under the subdivision "financial