The Online Safety Act 2023 (Qualifying Worldwide Revenue) Regulations 2025
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Change 1
5 Determination of qualifying worldwide revenue: general principles
(1) This regulation applies for the purposes of determining qualifying worldwide revenue (whether for the purpose of Part 2 or for the purpose of Part 3). (2) As far as reasonably practicable, amounts brought into account must conform to applicable accounting standards. (3) If an amount that is relevant for the purpose of determining qualifying worldwide revenue is expressed for accounting purposes by or on behalf of the provider of a regulated service, or by or on behalf of an entity that is a group undertaking in relation to the provider, in a currency other than sterling— (a) the amount must be converted into its sterling equivalent; and (b) the conversion must be made by applying a just and reasonable exchange rate.
5 Determination of qualifying worldwide revenue: general principles
(1) This regulation applies for the purposes of determining qualifying worldwide revenue (whether for the purpose of Part 2 or for the purpose of Part 3). (2) As far as reasonably practicable, amounts brought into account must conform to applicable accounting standards. (3) If an amount that is relevant for the purpose of determining qualifying worldwide revenue is expressed for accounting purposes by or on behalf of the provider of a regulated service, or by or on behalf of an entity that is a group undertaking in relation to the provider, in a currency other than sterling— (a) the amount must be converted into its sterling equivalent; and (b) the conversion must be made by applying a just and reasonable exchange rate.
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