# The Building Societies (Accounts and Related Provisions) Regulations 1992, Paragraph 12: Goodwill


(1) The application of paragraphs 8 to 10 in relation to goodwill (in any case where goodwill is treated as an asset) is subject to the following provisions of this paragraph.
(2) Subject to subparagraph (3), the amount of the consideration for any goodwill acquired by a society shall be reduced by provisions for amortisation calculated so as to write off that amount systematically over a period chosen by the directors of the society.
(3) The period chosen shall not exceed the useful economic life of the goodwill.

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Source: https://www.legislation.gov.uk/uksi/1992/359/schedule/7/paragraph/12 (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992/schedule-7/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.