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Paragraph 2 Associated companies and bodies

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Where reference is made to an associated body of a society, a body corporate associated with a society or an associated company of a society—

(a)

a reference to either of the first two shall be construed in accordance with section 18 of the Act (power to invest), but

(b)

in the case of a reference to the last, in determining whether or not a company is an associated company, generally accepted accounting principles shall be used.