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The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 2014
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- UK Statutory Instruments
- 2014 No. 48
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EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations amend the Building Societies (Accounts and Related Provisions) Regulations 1998 (S.I. 1998/504) to remove the requirement on a building society to include in its annual business statement certain information relating to officers who are not directors of the society and persons connected to them.
Regulation 2(2)(a) will remove the requirement on a society to state in its annual business statement, in respect of each officer of the society, the officer’s name, business occupation and the bodies of which the officer is a director.
Regulation 2(2)(b) and (c) will remove the requirement on a society to state in its annual business statement, in relation to each officer of the society, and persons connected to them, certain information in respect of entitlements to subscribe for shares in, or debentures of, any connected undertaking of the society.
An impact assessment has not been produced for this instrument as no impact on costs of business or the voluntary sector is foreseen.
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