Section OC 2 — Income Tax Act 2007: FDP accounts

OC 2 FDP accounts General rules apply (1) The general rules on memorandum accounts set out in sections OA 2 and OA 3 (which relate to the treatment of memorandum accounts) apply to the FDP account of an FDPA company. Consolidated groups (2) Under section OP 54 (When credits and debits arise only in consolidated FDP group accounts), certain credits and debits do not arise in the account if the company is part of a consolidated group. Defined in this Act: consolidated group , FDP account , FDPA company , memorandum account , Compare: 2004 No 35 s MG 16(1), (4)