[Part 2 Societies Required to Prepare Consolidated Group Accounts]
Building Societies Act 1986 (1986 c 53) | Legislation

[Part 2 Societies Required to Prepare Consolidated Group Accounts]

[Subsidiary undertakings

9

(1)     The following information must be given with respect to the undertakings that are subsidiary undertakings of the society at the end of the financial year.

(2)     The name of each undertaking must be stated.

(3)     There must be stated—

(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)     It must be stated whether the subsidiary undertaking is included in the consolidation and, if it is not, the reason for excluding it from the consolidation must be given.

(5)     It must be stated with respect to each subsidiary undertaking of the society by virtue of which of the conditions specified in [section 1162 of the Companies Act 2006] it is a subsidiary undertaking of the society.

(6)     That information need not be given in relation to a subsidiary undertaking if—

(a)     the relevant condition is that specified in subsection (2)(a) of that section, and

(b)     the society that is its immediate parent undertaking (within the meaning of [section 1162 of the Companies Act 2006]) holds

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