[Part 1 Societies not Required to Prepare Consolidated Group Accounts]
Building Societies Act 1986 (1986 c 53) | Legislation

[SCHEDULE 10B Disclosures about Related Undertakings Required in Note to Accounts]

[Section 72K]

[Part 1 Societies not Required to Prepare Consolidated Group Accounts]

[Subsidiary undertakings

1

(1)     The following information must be given where at the end of the financial year the society has subsidiary undertakings but is not required to prepare consolidated group accounts.

(2)     The name of each subsidiary undertaking shall be stated.

(3)     There must be stated with respect to each subsidiary undertaking—

(a)     if it is incorporated outside the United Kingdom, the country in which it is incorporated;

(b)     if it is unincorporated, the address of its principal place of business.

(4)     The specific reason why each subsidiary undertaking is not required to be included in consolidated group accounts must be stated.

Holdings in subsidiary undertakings

2

(1)     There must be stated in relation to shares of each class held by the society in a subsidiary undertaking—

(a)     the identity of the class; and

(b)     the proportion of the nominal value of the shares of that class represented by those shares.

(2)     The shares held by or on behalf of the society itself must be distinguished from those

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