{
  "url": "https://openlegislation.uk/friendly-societies-accounts-and-related-provisions-regulations-1994/schedule-6/paragraph-24",
  "json_url": "https://openlegislation.uk/friendly-societies-accounts-and-related-provisions-regulations-1994/schedule-6/paragraph-24.json",
  "legislation": "uksi/1994/1983",
  "legislation_title": "The Friendly Societies (Accounts and Related Provisions) Regulations 1994",
  "legislation_url": "https://openlegislation.uk/friendly-societies-accounts-and-related-provisions-regulations-1994",
  "path": "schedule/6/paragraph/24",
  "kind": "paragraph",
  "number": "24",
  "heading": "Goodwill",
  "text": "(1) The application of paragraphs 19 to 21 above in relation to goodwill (in any case where goodwill is treated as an asset) is subject to the following provisions of this paragraph.\n(2) Subject to sub-paragraph (3) below, the amount of the consideration of any goodwill acquired by a society must be reduced by provisions for depreciation calculated to write off that amount systematically over a period chosen by the committee of management.\n(3) The period chosen must not exceed the useful economic life of the goodwill in question.\n(4) In any case where any goodwill acquired by a society is included as an asset in the society’s balance sheet the period chosen for writing off the consideration for that goodwill and the reasons for choosing that period must be disclosed in a note to the accounts.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 6 para. 24 in force at 1.9.1994, see reg. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1994/1983/schedule/6/paragraph/24",
    "retrieved_at": "2026-10-29T13:28:41.237812+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}