{
  "url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992/schedule-11/paragraph-3",
  "json_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992/schedule-11/paragraph-3.json",
  "legislation": "uksi/1992/359",
  "legislation_title": "The Building Societies (Accounts and Related Provisions) Regulations 1992",
  "legislation_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992",
  "path": "schedule/11/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": "Capital",
  "text": "(1) “Gross capital” means reserves as shown in the balance sheet plus any subordinated liabilities, loan capital, subscribed capital, revaluation reserves and minority interests, where applicable, as shown in the balance sheet.\n(2) “Free capital” means the aggregate of gross capital and general provisions for bad and doubtful debts less intangible fixed assets and tangible fixed assets, as shown in the balance sheet. Leases 4.In respect of leases—\n“long lease” means a lease in the case of which the portion of the term for which it was granted remaining unexpired at the end of the financial year is not less than 50 years, “short lease” means a lease which is not a long lease, and “lease” includes an agreement for a lease. Listed securities 5. “Listed security” means a security listed on a recognised stock exchange or on any stock exchange of repute outside the United Kingdom and the expression “unlisted security” shall be construed accordingly. Loans 6.A loan is treated as falling due for repayment, and an instalment of a loan is treated as falling due for payment, on the earliest date on which the lender could require repayment or (as the case may be) payment, if he exercised all options and rights available to him. Materiality 7.No provision of these Regulations requiring the inclusion of amounts in a particular account, or in notes to the annual accounts (other than paragraphs 4 to 14 and 42 of Schedule 5), shall be taken to prohibit the disregarding of an amount which, in the particular context of that provision, is immaterial.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1992/359/schedule/11/paragraph/3",
    "retrieved_at": "2026-10-29T14:28:48.730066+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}