Building Societies Act 1986

[F1 11. (1) There must be shown in respect of the statutory auditors of the society– U.K.

(a) the amount of remuneration received or receivable by them in their capacity as such; and

(b) the aggregate amount of remuneration, if any, received or receivable by the auditors or any associate of the auditors in respect of services other than those of the auditors in their capacity as such supplied–

(i) to the society; or

(ii) to any relevant subsidiary undertaking of the society of which the society’s auditors or any associate of the society’s auditors are the auditors.

(2) In this paragraph–

(a) “associate”, in relation to the auditors, shall be construed in accordance with paragraph 11;

(b) “relevant subsidiary undertaking”, in relation to the society, means any subsidiary undertaking of the society other than a subsidiary undertaking formed under the law of a country or territory outside the United Kingdom; and

(c) remuneration includes sums paid in respect of expenses and the estimated money value of any other benefits received or receivable otherwise than in cash.]

Textual Amendments

F1 Schs. 10A, 10B inserted (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), art. 1, Sch. para. 9