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Paragraph 12

Original text. Later amendments are not shown.

(1)

The application of paragraphs 8 to 10 above in relation to goodwill (in any case where goodwill is treated as an asset) is subject to subparagraph (2) below.

(2)

The amount of the consideration for any goodwill acquired by a society shall be reduced by provisions for amortisation calculated to write off that amount systematically over a period which shall not exceed the useful economic life of the goodwill in question.