Paragraph 19 Commercial Assets

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

Sch.5, para 5(3)(e) rev. in Pt. by Building Societies (Accounts and Related Provisions) 1994 reg.2(b)(i)
Sch.5, para 12A added by Building Societies (Accounts and Related Provisions) 1994 reg.2(b)(ii)
Sch.5, para 13 amended by Building Societies (Accounts and Related Provisions) 1994 reg.2(b)(iii)
Sch.5, para 15(4) replaced (by paras (4)(4A)) by Building Societies (Accounts and Related Provisions) 1994 reg.2(b)(iv)
Sch.5, para 15 A added by Building Societies (Accounts and Related Provisions) 1994 reg.2(b)(v)

(1)

The aggregate of commercial assets in respect of Asset items 2, 3, 4(a), 4(b) and 4(c) in the balance sheet shall be shown on the basis of remaining maturity, as follows:—

(a)

accrued interest,

(b)

amounts which are repayable on demand or are for an indeterminate period, being repayable upon seven days notice, and

(c)

other amounts with remaining maturity of—

(i)

not more than three months,

(ii)

more than three months but not more than one year,

(iii)

more than one year but not more than five years, and

(iv)

more than five years.

(2)

For the purposes of subparagraph (1), where a commercial asset is repayable by instalments, each such instalment shall be treated as a separate amount.