Regulation 3 Accounts may show amounts in euro

In the principal Regulations after regulation 4, insert the following—

“Accounts in euro

4A.

(1)

The amounts set out in the annual accounts of a society may also be shown in the same accounts translated into euro.

(2)

Where amounts are shown in euro—

(a)

the amounts must have been translated at the exchange rate prevailing on the balance sheet date, and

(b)

that rate must be disclosed in the notes to the accounts.”.