Part 6 Banking and lending by societies

Banking

70 Section 69: form of statement

(1) The statement required by section 69 is to be in the following form (or as near to it as is possible in the circumstances)—

1

Capital of the society—

(a)

nominal amount of each share;

(b)

number of shares issued;

(c)

amount paid up on shares.

2

Liabilities of the society on the relevant date—

(a)

on judgments;

(b)

on specialty;

(c)

on notes or bills;

(d)

on simple contract;

(e)

on estimated liabilities.

3

Assets of the society on the relevant date—

(a)

government securities (stating them);

(b)

bills of exchange and promissory notes;

(c)

cash at the bankers;

(d)

other securities.

(2) “The relevant date” is—

(a) 1 January (for the period beginning with the first Monday in the following February and ending immediately before the first Monday in the following August);

(b) 1 July (for the period beginning with the first Monday in the following August and ending immediately before the first Monday in the following February).