# Building Societies Act 1986, Section 81B: Interpretation of Part 8

Extent: E+W+S+N.I.

(1) In this Part—
“annual accounts”, in relation to a building society, means—
(a)the individual accounts required by section 72A, and
(b)any group accounts required by section 72E,together with the notes to those accounts;
...
“income and expenditure account”, in relation to a society which prepares IAS accounts, includes an income statement or other equivalent financial statement required to be prepared by UK-adopted international accounting standards;
...
“UK-adopted international accounting standards” has the meaning given by section 474(1) of the Companies Act 2006;
“UK regulated market” has the meaning given in Article 2.1.13A of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 and amending Regulation (EU) No. 648/2012.
(2) References in this Part to accounts giving a “true and fair view” are references—
(a) in the case of Building Societies Act individual accounts, to the requirement under section 72B that such accounts give a true and fair view;
(b) in the case of Building Societies Act group accounts, to the requirement under section 72F that such accounts give a true and fair view; and
(c) in the case of IAS accounts, to the requirement under UK-adopted international accounting standards that such accounts achieve a fair presentation.

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Source: https://www.legislation.gov.uk/ukpga/1986/53/section/81B (the official version)
Page: https://openlegislation.uk/building-societies-act-1986/section-81B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.