701A(1)  The Treasury may by regulations make provision for cases where, in consequence of a change in accounting standards, there is a relevant accounting change.

701A(2)  “Change in accounting standards” means the issue, revocation, amendment or recognition of, or withdrawal of recognition from, an accounting standard by an accounting body.

701A(3)  “Relevant accounting change” means a change in the way in which a company is permitted or required, for accounting purposes, to recognise amounts which–

(a)are brought into account by the company as credits or debits for any period for the purposes of this Part, or

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