Paragraph 7 PercentagesI1

United Kingdom

(1)

The directors' report F1prepared by the directors of a society whose annual accounts are Building Societies Act accounts shall disclose, in accordance with sub-paragraph (2)—

(a)

free capital as a percentage of the total of Liability items A to D in Part I or II of Schedule 2; and

(b)

gross capital as a percentage of the total of Liability items A to D in Part I or II of Schedule 2.

F2(1A)

The directors’ report prepared by the directors of a society whose annual accounts are IAS accounts shall disclose, in accordance with sub-paragraph (2)—

(a)

free capital as a percentage of the total of the liability items listed in sub-paragraph (1B) as shown in the annual accounts; and

(b)

gross capital as a percentage of the total of the liability items listed in sub-paragraph (1B) as shown in the annual accounts.

(1B)

The liability items are shares, amounts owed to credit institutions, amounts owed to other customers, and debt securities in issue.

(2)

The matters required to be disclosed by F3sub-paragraphs (1) and (1A) shall be disclosed—

(a)

where the society is a single accounts society, in relation to the society; and

(b)

where the society is a group accounts society, in relation to the society and its subsidiary undertakings.

Annotations

Textual amendments

F1: Words in Sch. 8 para. 7(1) inserted (6.4.2007) by The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 2007 (S.I. 2007/859), regs. 1, 4(a)
F2: Sch. 8 para. 7(1A)(1B) inserted (6.4.2007) by The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 2007 (S.I. 2007/859), regs. 1, 4(b)
F3: Words in Sch. 8 para. 7(2) substituted (6.4.2007) by The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 2007 (S.I. 2007/859), regs. 1, 4(c)

Commencement

I1: Sch. 8 para. 7 in force at 27.3.1998, see reg. 1