Cap. 386 Art. 196Treatment of development costs.

(1) Subject to the following provisions of this article, where development costs are shown as an asset in a company’s annual accounts, any amount shown in respect of those costs is to be treated -

(a) under article 192, as a realised loss; and

(b) under article 194, as a realised revenue loss.

(2) The provisions of sub-article (1) shall not apply to any part of that amount representing an unrealised profit made on revaluation of those costs.