# The Building Societies (Accounts and Related Provisions) Regulations 1998, Paragraph 2

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

(1) The amount of any assets that are subordinated must be shown either as a subdivision of any relevant asset item or in the notes to the accounts; in the latter case disclosure shall be by reference to the relevant asset item or items in which the assets are included.
(2) The amounts required to be shown in respect of paragraph 1 shall be further subdivided to show the amounts of any assets or liabilities which are subordinated.
(3) For the purposes of sub-paragraphs (1) and (2), assets or liabilities are subordinated if there is a contractual obligation to the effect that in the event of winding up or bankruptcy they are to be repaid only after the claims of other creditors have been met (other than any creditors ranking pari passu with those liabilities) whether or not a ranking has been agreed between the subordinated creditors concerned.

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