# The Building Societies (Accounts and Related Provisions) Regulations 1992, Paragraph 8: Significant holdings in undertakings other than subsidiary undertakings


(1) Where the society has a significant holding in an undertaking amounting to 20 per cent. or more of the nominal value of the shares in the undertaking, there shall also be stated—
(a) the aggregate amount of the capital and reserves of the undertaking as at the end of its relevant financial year, and
(b) its profit or loss for that year.
(2) That information need not be given if the investment of the society in all undertakings in which it has such a holding as is mentioned in subparagraph (1) is shown, in aggregate, in the notes to the accounts by way of the equity method of valuation.
(3) That information need not be given in respect of an undertaking if—
(a) the undertaking is not required by any provision of the Companies Act 1985 or the Companies (Northern Ireland) Order 1986 to deliver a copy of its balance sheet for its relevant financial year and does not otherwise publish that balance sheet in the United Kingdom or elsewhere, and
(b) the society’s holding is less than 50 per cent. of the nominal value of the shares in the undertaking.
(4) Information otherwise required by this paragraph need not be given if it is not material for the purpose of giving a true and fair view for the society of the matters set out in subsections (2), (3) and (4) of section 73 of the Act.
(5) For the purposes of this paragraph the “relevant financial year” of an undertaking is—
(a) if its financial year ends with that of the society, that year, and
(b) if not, its financial year ending last before the end of the society’s financial year.

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Source: https://www.legislation.gov.uk/uksi/1992/359/schedule/6/paragraph/8 (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992/schedule-6/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.