# The Friendly Societies (Insurance Business) (Amendment) Regulations 1996, Paragraph 16: Calculation of exposure to a counterparty


If the society has liabilities to the counterparty which may be offset against the above-mentioned assets in accordance with generally accepted accounting concepts, bases and policies or other generally accepted methods appropriate for societies, then such liabilities may be offset for the purposes of the aggregation required by paragraph 14 above.

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Source: https://www.legislation.gov.uk/uksi/1996/3008/schedule/1/paragraph/16 (the official version)
Page: https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996/schedule-1/paragraph-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.