Friendly Societies Act 1992 (c. 40)

SCHEDULES

[F1 SCHEDULE 13E U.K. Disclosures about related undertakings

Textual Amendments

F1 Sch. 13E inserted (with effect in accordance with art. 1(2) of the amending S.I.) by The Friendly Societies Act 1992 (International Accounting Standards and Other Accounting Amendments) Order 2005 (S.I. 2005/2211), art. 1(2), Sch. para. 6

PART 1 U.K. Societies not required to prepare consolidated group accounts

Significant holdings in bodies corporate other than subsidiary undertakings U.K.

5. (1) The information required by paragraphs 6 and 7 must be given where at the end of the financial year the society has a significant holding in a body corporate which is not a subsidiary undertaking of the society. U.K.

(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 society’s accounts) exceeds one-tenth of the amount (as so stated) of the society’s assets.]