{
  "url": "https://openlegislation.uk/building-societies-act-1986-accounts-and-related-transitional-provisions-order-1987/article-5",
  "json_url": "https://openlegislation.uk/building-societies-act-1986-accounts-and-related-transitional-provisions-order-1987/article-5.json",
  "legislation": "uksi/1987/395",
  "legislation_title": "The Building Societies Act 1986 (Accounts and Related Transitional Provisions) Order 1987",
  "legislation_url": "https://openlegislation.uk/building-societies-act-1986-accounts-and-related-transitional-provisions-order-1987",
  "path": "article/5",
  "kind": "article",
  "number": "5",
  "heading": "Directors' report",
  "text": "(1) Any directors' report required by subsection (3) of section 82 of the previous enactments (dealing with directors' reports) to be attached to a balance sheet in relevant accounts of a society shall, in the appropriate circumstances, include the appropriate particulars in place of the particulars required to be included therein by subsection (2)(b) of that section in relation to special advances.\n(2) For the purposes of paragraph (1) above—\n(a) the appropriate circumstances are circumstances in which the society has, in relation to the financial year to which the directors' report relates, made the election in Article 6(2) of the previous Order (dealing with special advances);\n(b) the appropriate particulars are—\n(i) the total amount advanced during the period beginning on the first day of that financial year and ending on 31st December 1986 by the society on the security of freehold or leasehold estate, and the total number of mortgages executed in favour of the society during that period, and\n(ii) the proportion of that total amount which represents special advances, and the number of mortgages executed during that period to secure special advances.\n(3) If the requirements of paragraph (1) above are not met in a society’s directors' report to which that paragraph applies, the society shall be treated, for the purposes of the saved provisions, as if that directors' report had not met the requirements of section 82 of the previous enactments.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1987/395/article/5",
    "retrieved_at": "2026-10-29T16:30:33.980472+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."
}