# The Building Societies (Accounts and Related Provisions) Regulations 1998, Regulation 10: Summary financial statement

Extent: E+W+S+N.I.

(1) Subject to paragraph (2), each summary financial statement of a society prepared under section 76 of the Act shall be prepared in the order and under the headings and subheadings shown in the formats (and as directed by the notes) set out in the relevant Part, and in accordance with the provisions of Part II, of Schedule 10, so as to contain—
(a) a statement in the prescribed form for the purposes of section 76(4) of the Act;
(b) a summary directors' report;
(c) a summary statement; and
(d) a summary of key financial ratios,
followed by the statement of the auditors' opinion required to be included by section 76(5) of the Act, and so as to give a summary account of the relevant matters.
(1A) For the purposes of paragraph (1) “the relevant Part”, for a society whose annual accounts are Building Societies Act accounts, is Part I, and for a society whose annual accounts are IAS accounts, is Part IA.
(2) Paragraphs (1) and (1A) are not to be read as—
(a) requiring the heading or subheading for any item to be distinguished by any letter or number assigned to that item in the format in which it appears;
(b) prohibiting the inclusion, in place of the words “THIS YEAR” and “LAST YEAR” in Sections C and D of Parts I and IA of Schedule 10, of other column headings consistent with paragraph 2 of Part II of that Schedule; or
(c) prohibiting the inclusion, for the purpose of assisting the giving in the summary financial statement of a summary account of the relevant matters, of material additional to that required to be included by this regulation.
(3) In this regulation “the relevant matters” are, in relation to a financial year of a society with which a summary financial statement deals, the financial development (during the year) and the financial position (at the end of the year) of—
(a) where section 76(2) of the Act does not apply, the society; and
(b) where section 76(2) of the Act applies, the society and its connected undertakings.

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Source: https://www.legislation.gov.uk/uksi/1998/504/regulation/10 (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/regulation-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.