Paragraph 4

Where, at the end of the financial year of a society ending after 31st May 1987, the liabilities of the society include liabilities in respect of non-retail funds and deposits, the relevant accounts of the society shall, subject to sub-paragraph (2) below, contain by way of note on the balance sheet the aggregate of the liabilities of the society in respect of non-retail funds and deposits at the end of that financial year.

The balance sheet of a society in its relevant accounts may include as items among the liabilities (in place of “Shares” and “Deposits and Loans”) “Retail shares” “Non-retail shares” “Retail deposits” and “Non-retail deposits” and, if those items are so included, the aggregate of the liabilities of the society in respect of non-retail funds and deposits shall not be required to be stated separately by way of note on the balance sheet.

For the purposes of sub-paragraph (2) above, “Retail shares” and “Retail deposits” represent respectively those shares and deposits which are not represented by non-retail funds and deposits, and “Non-retail shares” and “Non-retail deposits” represent respectively those shares and deposits which are so represented.