{
  "url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/schedule-8/paragraph-5",
  "json_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1998/schedule-8/paragraph-5.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/8/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": "Directors' interests",
  "text": "(1) Subject to sub-paragraphs (2) and (3), the directors' report shall state the following, with respect to each person who, at the end of the financial year, was a director of the society—\n(a) whether or not he was at the end of that year interested in shares in, or debentures of, any connected undertaking of the society; and\n(b) if he was so interested—\n(i) the number and amount of shares in, and debentures of, each such undertaking (specifying it) in which he was then interested;\n(ii) whether or not he was, at the beginning of that year (or, if he was not then a director, when he became one), interested in shares in, or debentures of, that or any other such undertaking; and\n(iii) if he was, the number and amount of shares in, and debentures of, each undertaking (specifying it) in which he was interested at the beginning of the financial year or (as the case may be) when he became a director.\n(2) The particulars required by sub-paragraph (1) may be given by way of notes to the society’s annual accounts in respect of the financial year, instead of being stated in the directors' report.\n(3) Particulars required by sub-paragraph (1) are not required to be given in respect of directors' nominee shareholdings, held on behalf of the society.\n(4) Any changes in the details disclosed under sub-paragraph (1) between the end of the year and the relevant date must be disclosed in the directors' report and any such change after that date may be so disclosed.\n(5) For the purposes of sub-paragraph (4) “the relevant date” is—\n(a) the date one month prior to the date of the notice of the society’s annual general meeting; or\n(b) if earlier, the date on which approval, under section 80 of the Act, of components of the annual accounts is completed.\n(6) In this paragraph, the interest of the spouse, civil partner, infant son or infant daughter of a director of a society (not being himself or herself a director of the society) is to be treated as an interest of the director; and “son” includes step-son and “daughter” includes step-daughter and “infant” means, in relation to Scotland, a person under the age of 18 years.\n(7) In this paragraph, any reference to an interest of a director, or any other person mentioned in sub-paragraph (6), in shares or debentures shall be interpreted in accordance with Schedule 1 to the Companies Act 2006.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 8 para. 5(6) substituted (5.12.2005) by The Civil Partnership Act 2004 (Amendments to Subordinate Legislation) Order 2005 (S.I. 2005/2114), art. 2(16), reg. 1, Sch. 16 para. 15(2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 8 para. 5(7) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 9(8)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 8 para. 5 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/8/paragraph/5",
    "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."
}