Paragraph 19 Reserves and provisionsI1
United Kingdom
Where any amount is transferred:
to or from any reserves;
to any F1provisions for liabilities; or
from any F2provisions for liabilities otherwise than for the purpose for which the provision was established,
and the reserves or provisions are or would but for regulation 6(3) above be shown as separate items in the society’s balance sheet, the information mentioned in the following sub-paragraph must be given in respect of the aggregate of reserves or provisions included in items in the balance sheet to which any such transfer relates.
That information required by this paragraph is:
the amount of the reserves or provisions as at the date of the beginning of the financial year and as at the balance sheet date respectively; and
any amounts transferred to or from the reserves or provisions during that year.
Particulars must be given of each provision included in Liabilities item E.3 (other provisions) in the society’s balance sheet in any case where the amount of that provision is material.
Annotations
Textual amendments
- F1
Words in Sch. 4 para. 19(1)(b) substituted (1.10.2005 with effect as respects financial years which begin on or after 1.1.2005 and end on or after October 2005) by The Friendly Societies (Accounts and Related Provisions) (Amendment) Regulations 2005 (S.I. 2005/2210), regs. 1(2), 2(6)
- F2
Words in Sch. 4 para. 19(1)(c) substituted (1.10.2005 with effect as respects financial years which begin on or after 1.1.2005 and end on or after October 2005) by The Friendly Societies (Accounts and Related Provisions) (Amendment) Regulations 2005 (S.I. 2005/2210), regs. 1(2), 2(6)
Commencement
- I1
Sch. 4 para. 19 in force at 1.9.1994, see reg. 1