reg 21 Valuation
(1) The amounts to be included in respect of assets of any description mentioned in paragraph 22 (valuation of assets: general) must be determined either— (a) in accordance with that paragraph and paragraph 24 (but subject to paragraphs 27 to 29), or (b) so far as applicable to an asset of that description, in accordance with Section C (valuation at fair value). (2) The amounts to be included in respect of assets of any description mentioned in paragraph 24 (alternative valuation of fixed-income securities) may be determined— (a) in accordance with that paragraph (but subject to paragraphs 27 to 29), or (b) so far as applicable to an asset of that description, in accordance with Section C. (3) The amounts to be included in respect of assets which— (a) are not assets of a description mentioned in paragraph 22 or 23, but (b) are assets of a description to which Section C is applicable, may be determined in accordance with that Section. (4) Subject to sub-paragraphs (1) to (3), the amounts to be included in respect of all items shown in a company's accounts are determined in accordance with Section C.