Article 4 Disclosure of auditor remuneration

After section 72L of the 1986 Act (inserted by article 3), insert—

“Disclosure of auditor remuneration required in notes to accounts

72M.

(1)

The information specified in Schedule 10C must be given in notes to a building society’s annual accounts.

(2)

The Treasury may, by order, modify the provisions of Schedule 10C.

(3)

An order under this section may—

(a)

make consequential amendments of or repeals in other provisions of this Act;

(b)

make such transitional or saving provisions as appear to the Treasury to be necessary or expedient;

(c)

make different provision for different cases.

(4)

The power to make an order under this section is exercisable by statutory instrument but no such order shall be made unless a draft of it has been laid before and approved by a resolution of each House of Parliament.

(5)

In this section “modify” includes amend, add to or repeal.”.

In Schedule 10A to the 1986 Act (disclosures about directors, other officers and employees in notes to accounts)^f1, omit paragraphs 11 and 12.

Schedule 1, which inserts Schedule 10C into the 1986 Act, has effect.