Regulation 12 Return of aggregate information by society or institution

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

reg. 12(3)(a) word inserted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 133(1)(b)
reg. 12(3)(d) word inserted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 133(1)(b)
reg. 12 heading word inserted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 133(2)(l)
reg. 12(1)(2)(3) word inserted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 133(2)(l)
reg.12(1) amended by Tax-exempt Special Savings Account 1995 reg. 8

(1)

A society or institution shall within 30 days after each of the aggregate reporting dates specified in paragraph (2), and after ceasing to or ceasing to be entitled to operate accounts, deliver to the Board a return signed on behalf of the society or institution making it which contains the aggregate information specified in paragraph (3).

(2)

The aggregate reporting dates specified in this paragraph are 31st March, 30th June, 30th September and 31st December in each year that the society or institution operates accounts.

(3)

The aggregate information specified in this paragraph is information relating to the period beginning with 1st January 1991, or the date on which the society or institution first began to operate accounts, and ending with the relevant aggregate reporting date or date of cessation, as to–

(a)

the total number of accounts opened by the society or institution in that period (including accounts transferred to other societies or institutions but excluding those transferred from other societies or institutions);

(b)

the total number of accounts closed in that period, whether at the end of the period of five years beginning with the day on which they were opened or on the earlier death of the account-holder;

(c)

the total number of accounts which ceased to be tax-exempt special savings accounts in that period for any of the reasons mentioned in section 326B(1) of the Taxes Act;

(d)

the total number of accounts transferred to other societies or institutions in that period;

(e)

the total amount which in that period was deposited in, or subscribed for shares in connection with, accounts which were being operated by the society or institution at the relevant aggregate reporting date or date of cessation;

(f)

the total amount of interest, dividends and bonus which in that period was credited to accounts which were being operated by the society or institution at the relevant aggregate reporting date or date of cessation;

(g)

the total amount held in accounts at the relevant aggregate reporting date or date of cessation; and

(h)

the total amount of income tax deducted from interest, dividends and bonus paid or credited to accounts which ceased to be tax-exempt special savings accounts for any of the reasons mentioned in section 326B(1) of the Taxes Act.