# The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 1994, Regulation 3: Transitional provisions


(1) Where any provision of these Regulations requires—
(a) the recording of a particular item in respect of an entire financial year, and—
(i) that financial year began before the coming into force of these Regulations, and
(ii) the legislation in force during the period beginning with the start of the financial year and ending immediately before the coming into force of these Regulations did not require the recording of that particular item, or
(b) the recording of a particular item as at the end of a previous financial year, and—
(i) that previous financial year ended before the coming into force of these Regulations, and
(ii) the legislation in force as at the end of that previous financial year did not require the recording of that particular item,
then if the records of the society are so kept as to enable that particular item to be identified, it shall be identified and so recorded, but if the records of the society are not so kept, it shall be included on the basis of an estimate.
(2) Where under paragraph (1) an estimate is used in respect of any item, that fact shall be disclosed in a note to the accounts.
(3) A society may, with respect to a financial year which commenced before the coming into force of these Regulations, prepare such annual accounts as it would have been required to prepare had these Regulations not been made.

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Source: https://www.legislation.gov.uk/uksi/1994/2459/regulation/3 (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-amendment-regulations-1994/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.