- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (17/06/2016)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 31/12/2020
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Building Societies Act 1986, Section 72A is up to date with all changes known to be in force on or before 19 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)The directors of every building society shall prepare accounts for the society for each of its financial years.
Those accounts are referred to in this Part as the society’s “individual accounts”.
(2)A society’s individual accounts may be prepared–
(a)in accordance with section 72B (“Building Societies Act individual accounts”), or
(b)in accordance with international accounting standards (“IAS individual accounts”).
This subsection is subject to the following provisions of this section and section 72I (consistency of accounts).
(3)After the first financial year in which the directors of a building society prepare IAS individual accounts (“the first IAS year”), all subsequent individual accounts of the society must be prepared in accordance with international accounting standards unless there is a relevant change of circumstance.
(4)There is a relevant change of circumstance if, at any time during or after the first IAS year, the society ceases to have any securities admitted to trading on a regulated market.
(5)If, having changed to preparing Building Societies Act individual accounts following a relevant change of circumstance, the directors again prepare IAS individual accounts for the society, subsections (3) and (4) apply again as if the first financial year for which such accounts are again prepared were the first IAS year.]
Textual Amendments
F1Ss. 72A-72I substituted for ss. 72, 73 (22.12.2004 with effect in accordance with art. 1(2) of the amending S.I.) by The Building Societies Act 1986 (International Accounting Standards and Other Accounting Amendments) Order 2004 (S.I. 2004/3380), arts. 1, 2
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