Article 46

Article 46

1.  Member States may require or permit the valuation of investments shown as assets under C on the basis of their current value calculated in accordance with Articles 48 and 49.

2.  The investments shown as assets under D shall be shown at their current value.

3.  Where investments are shown at their purchase price, their current value shall be disclosed in the notes on the accounts.

However, Member States in which, on the date of the notification of this Directive, investments are shown at their purchase price may give undertakings the option of initially disclosing in the notes on the account the current value of investment shown as assets under C (I) no later than five years after the date referred to in Article 70 (1) and the current value of other investments no later than three years after the same date.

4.  Where investments are shown at their current value, their purchase price shall be disclosed in the notes on the accounts.

5.  The same valuation method shall be applied to all investments included in any item denoted by an arabic numeral or shown as assets under C (I). ►M1  Member States may permit derogations from this requirement. ◄

▼M1

6.  The method(s) applied to each investment item shall be stated in the notes on the accounts, together with the amounts so determined.

▼M1