1(1)  These Regulations may be cited as the Exchange Gains and Losses (Insurance Companies) Regulations 1994.

1(2)  These Regulations shall come into force on 23rd March 1995.

1(3)  In these Regulations unless the context otherwise requires–

basic valuation”  shall be construed in accordance with section 159(1) of the 1993 Act;

the final accounting period” , in relation to a company, means the company's accounting period preceding the first accounting period to begin on or after 1st October 2002;

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