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Regulation 2 Interpretation

Original text. Later amendments are not shown.

(1)

In these Regulations—

  • “the Act” means the Building Societies Act 1986;

  • “group accounts society” means a society the directors of which are obliged by section 72 of the Act (duty of directors to prepare annual accounts) to prepare group accounts;

  • “particular account” means an income and expenditure account, a balance sheet, or a statement of the source and application of funds;

  • “relevant subsidiary” means a subsidiary of a group accounts society with which the group accounts of the society are required by section 72 of the Act to deal;

  • “single accounts society” means a society which is not a group accounts society; and

  • “society” means a building society.

(2)

Nothing in these Regulations shall be taken to imply that the carrying on by a society of any activity provision for the recording of which is contained in these Regulations is, by virtue of that provision, within the powers of that society.