# The Building Societies (Accounts and Related Provisions) Regulations 1998, Paragraph 11

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

(1) Liability item H in each of Parts I and II shall comprise all liabilities in respect of which there is a contractual obligation that, in the event of winding up or bankruptcy, they are to be repaid only after the claims of other creditors have been met. All subordinated liabilities shall be included, whether or not a ranking has been agreed between the subordinated creditors concerned.
(2) Any subordinated loan capital of the society shall be included in Liability item H in each of Parts I and II and in no other such Liability item, but this requirement shall not be taken to exclude the obligation to include in Liability item H in part II subordinated liabilities of subsidiary undertakings.

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Source: https://www.legislation.gov.uk/uksi/1998/504/schedule/2/paragraph/11 (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/schedule-2/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.