http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/13E

SCHEDULES

F1SCHEDULE 13EDisclosures about related undertakings

Annotations:

Amendments (Textual)

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 2Societies required to prepare consolidated accounts

Other significant holdings of society or group

13

1

The information required by paragraphs 14 and 15 must be given where at the end of the financial year the society has a significant holding in a body corporate which is not one of its subsidiary undertakings and does not fall within paragraph 12 (jointly controlled bodies).

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 undertaking; or

b

the amount of the holding (as stated or included in the society’s individual accounts) exceeds one-tenth of the amount of the society’s assets (as so stated).