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Paragraph 5 Information about new activities

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

(1)

The annual business statement of a society shall state, in respect of each adopted power of the society which has been exercised by the society for the first time during the financial year with which the annual business statement deals, the fact that it has been so exercised.

(2)

In determining for the purposes of subparagraph (1) whether a power has been exercised by a society, the society shall be treated as including its associated bodies.