# The Building Societies (General Charge and Fees) Regulations 2000, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations supersede the Building Societies (General Charge and Fees) Regulations 1999, which are revoked. They provide for a general charge to be paid by authorised building societies towards the expenses of the Building Societies Commission. The charge is levied with respect to the Commission’s accounting year beginning on the 1st April 2000 and ending on 31st March 2001 and is expected to raise £2.1 million in aggregate. Societies with assets of £50 million or less are required to pay a sum of £3,750 plus a sum equal to 0.00124 per cent of their assets. Societies with assets of more than £50 million are required to pay a sum of £5,000 plus a sum equal to 0.00124 per cent of their assets up to £30,000 million and 0.00062 per cent of their assets above that amount. In the case of a society formed by a recent amalgamation, a sum of £10,000 is payable plus a sum equal to the same percentage of the aggregated value of the uniting societies.
The same fixed sums are payable as in the Commission’s previous accounting year. The asset percentages have been reduced but the asset threshold has been increased from £45 million to £50 million. All societies will pay less than in the previous accounting year and the extent of the reduction will depend on each society’s assets.
The Regulations also provide for fees to be paid in respect of functions of the Building Societies Commission under the Building Societies Act 1986 and in respect of functions of the Central Office of the Registry of Friendly Societies under the 1986 Act. The Regulations further provide for fees to be paid for copies of documents held by the Central Office. These fees remain unchanged except for the fee for certification of a copy which has increased by 50%. Some of the fees payable in respect of the Commission’s functions have been increased by an average of 2.8%. The changes to the fees are as follows:
Nature of application
Fee payable 1999–2000
Fee payable from 2000
£
£
1 Authorisation of a building society
1,575
1,625
2 Mergers of building societies
(a) full fee
12,650
13,000
(b) initial fee
8,500
8,750
(c) fee in respect of hearing
4,150
4,250
3 Maintenance of building society’s public file
190
195
Schedule 2
2 (b) Certification as a true copy of a document
8
12

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Source: https://www.legislation.gov.uk/uksi/2000/668/note (the official version)
Page: https://openlegislation.uk/building-societies-general-charge-and-fees-regulations-2000/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.