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Building Societies Act 1986
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Building Societies Act 1986, Section 72L is up to date with all changes known to be in force on or before 01 March 2025. 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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Changes and effects yet to be applied to Section 72L:
- s. 5(11)-(14) inserted by 2007 c. 26 s. 1(2)
- s. 7(6A)-(6C) inserted by 2007 c. 26 s. 1(1)(a)
- s. 7(8A) inserted by 2007 c. 26 s. 1(1)(c)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 5(11)-(14) inserted by 2007 c. 26 s. 1(2)
- s. 7(6A)-(6C) inserted by 2007 c. 26 s. 1(1)(a)
- s. 7(8A) inserted by 2007 c. 26 s. 1(1)(c)
[F172L.Disclosures relating to off-balance-sheet arrangements required in notes to accountsU.K.
(1)If in any financial year—
(a)a building society is or has been party to arrangements that are not reflected in its balance sheet, and
(b)at the balance sheet date the risks or benefits arising from those arrangements are material,
the information required by this section must be given in notes to the society’s annual accounts.
(2)The information required is—
(a)the nature and business purpose of the arrangements, and
(b)the financial impact of the arrangements on the society.
(3)The information need only be given to the extent necessary for enabling the financial position of the society to be assessed.
(4)Where a building society is required to prepare consolidated group accounts, this section applies in relation to those accounts as if the undertakings included in the consolidation were a single building society.]
Textual Amendments
F1S. 72L inserted (29.6.2008) by The Building Societies Act 1986 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1519), arts. 1(2), 3
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