[69E Duty to prepare group accounts]
Friendly Societies Act 1992 (1992 c 40) | Legislation

[69E  Duty to prepare group accounts]

[(1)     If at the end of a financial year an incorporated friendly society has subsidiary undertakings, the committee of management, in addition to preparing individual accounts for the year, must prepare consolidated accounts for the year for the society and those undertakings taken as a whole, except as provided by regulations under subsection (7).

Those accounts are referred to in this Part as the society's “group accounts”.

(2)     Certain friendly societies are obliged by [section 403(1) of the Companies Act 2006] to prepare their group accounts in accordance with [UK-adopted international accounting standards] (“IAS group accounts”).

(3)     The group accounts of other friendly societies may be prepared—

(a)     in accordance with section 69F (“Friendly Societies Act group accounts”), or

(b)     in

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