# Friendly Societies Act 1992, Paragraph 16


(1) The information required by paragraphs 17 and 18 must be given where at the end of the financial year the group has a significant holding in a body corporate which is not a subsidiary undertaking of the society and does not fall within paragraph 12 (jointly controlled bodies).
(2) A holding is significant for this purpose if—
(a) it amounts to 20 per cent or more of the nominal value of the shares in the body corporate; or
(b) the amount of the holding (as stated or included in the group accounts) exceeds one-tenth of the amount of the group’s assets (as so stated).

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Source: https://www.legislation.gov.uk/ukpga/1992/40/schedule/13E/paragraph/16 (the official version)
Page: https://openlegislation.uk/friendly-societies-act-1992/schedule-13E/paragraph-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.