# The Building Societies (Accounts and Related Provisions) Regulations 1998, Paragraph 20A: General rules

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

The directors of a society shall, in determining how amounts are presented within items in the income and expenditure account and balance sheet, have regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles or practice.

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Source: https://www.legislation.gov.uk/uksi/1998/504/schedule/7/paragraph/20A (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/schedule-7/paragraph-20A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.