# The Building Societies (Accounts and Related Provisions) Regulations 1998, Paragraph 12: Goodwill

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

(1) The application of paragraphs 8 to 10 in relation to goodwill (in any case where goodwill is treated as an asset) is subject to the following provisions of this paragraph.
(2) Subject to sub-paragraph (3), the amount of the consideration for any goodwill acquired by a society shall be reduced by provisions for amortisation calculated so as to write off that amount systematically over a period chosen by the directors of the society.
(3) The period chosen shall not exceed the useful economic life of the goodwill.

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Source: https://www.legislation.gov.uk/uksi/1998/504/schedule/7/paragraph/12 (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/schedule-7/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.