{
  "url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/schedule-7/paragraph-8",
  "json_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/schedule-7/paragraph-8.json",
  "legislation": "uksi/1998/504",
  "legislation_title": "The Building Societies (Accounts and Related Provisions) Regulations 1998",
  "legislation_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998",
  "path": "schedule/7/paragraph/8",
  "kind": "paragraph",
  "number": "8",
  "heading": "General rules",
  "text": "(1) Subject to any provision for depreciation or diminution in value made in accordance with paragraph 9 or 10, the amount to be included in respect of any fixed asset shall be its cost unless it is valued in accordance with paragraph 13, 28, 31A, 31C or 31D.\n(2) (a) Assets included in items D and E in Parts I and II of Schedule 2 shall be valued as fixed assets.\n(b) Other assets falling to be included in the balance sheet shall be valued as fixed assets where they are intended for use on a continuing basis in the normal course of the activities of the society or of the society and its subsidiary undertakings.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 7 para. 8(1) substituted (31.12.2004 with application in accordance with reg. 1(2) of the amending S.I.) by The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 2004 (S.I. 2004/3199), regs. 1(1), 8(1)(a)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 7 para. 8 in force at 27.3.1998, see reg. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1998/504/schedule/7/paragraph/8",
    "retrieved_at": "2026-10-29T11:36:28.086103+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}