Section 391 | Meaning of “impairment loss” ^F1

(1)In this Part “impairment loss” means a loss in respect of the impairment of a financial asset.

(2)A reference to a debit in respect of an impairment loss does not include a debit that is (or apart from this Part would be) brought into account in an accounting period in respect of an asset for which fair value accounting is used.