# The Building Societies (Accounts and Related Provisions) Regulations 1992, Paragraph 5: Information about new activities


(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.

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Source: https://www.legislation.gov.uk/uksi/1992/359/schedule/9/paragraph/5 (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992/schedule-9/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.