Regulation 32
SCHEDULE 5ASSETS TO BE TAKEN INTO ACCOUNT ONLY TO A SPECIFIED EXTENT
PART I
| Descriptions of Asset | Percentage of general business or long term business amount |
|---|---|
| 1. A piece of land or a number of pieces of such land to which in the most recent proper valuation of such pieces of land an aggregate value is ascribed which is greater than the aggregate of the value of each of such pieces of land valued separately. | 5% |
| 2. Debts due, or which will become due, to the society from an individual (other than an individual who is connected with the society within the meaning of section 31(5) of the 1982 Act), being debts which are fully secured on any dwelling or any land appurtenant (or in Scotland, appertaining) thereto owned or to be purchased by the individual and used or to be used by him for his own residence. | 1% |
| 3. Unsecured debts, other than listed debentures or debts from an approved counterparty, which are debts due, or which will become due, (including debts which would become due if the society were to exercise any right to which it is entitled to require payment or repayment of the same) from a regulated institution and any of its connected companies (not being a dependant of the society). | 2½% |
| 4. Unsecured debts, other than listed debentures or debts from a regulated institution, which are debts due, or which will become due, to the society (including debts which would become due if the society were to exercise any right to which it is entitled to require payment or repayment of the same) from— | |
(a) any one company and any of its connected companies (not being a dependant of the society) | 1% |
(b) any one unincorporated body of persons | 1% |
| 5. Debts due or which will become due, to the society from an individual (other than debts specified in regulation 23(3) above or paragraph 2 or 4(b) above). | ¼% |
| 6. The aggregate of debts, other than debentures, of the description in paragraph 4 above. | 5% |
| 7. Listed equity shares in any one company and any of its connected companies (not being a dependant of the society). | 2½% |
| 8. Listed shares (including listed equity shares) and listed debentures in any one company and any of its connected companies (not being a dependant of the society or an approved counterparty). | 5% |
| 9. Unlisted shares in any one company and any of its connected companies (not being a dependant of the society). | 1% |
| 10. The aggregate of unlisted debentures of the descriptions in paragraphs 3 and 4 above and of unlisted shares and debt of the descriptions in paragraph 9 above. | 10% |
| 11. Holdings in an authorised unit trust scheme or a recognised scheme (other than a scheme falling within the Council Directive 85/611/EEC of 20 December 1985 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investments in transferable securities)(1). | 5% |
12. Subject to paragraph 13 below, shares held in or secured or unsecured debts (including debts which would become due if the society were to exercise any right to which it is entitled to require payment or repayment of the same) or the value of rights under derivative contracts due, or which will become due, from— (a) an individual; or (b) any one company and any of its connected companies (not being a dependant of the society); or | |
(c) any one unincorporated body of persons | 5% |
| 13. Shares, debts and rights under derivative contracts to which the limitations in paragraph 12 apply, the holdings of which exceed 5% but which in aggregate are taken into account for no more than 40% of the business amount. | 10% |
| 14. Shares, debts and rights under derivative contracts to which the limitations in paragraph 12 and 13 apply which are issued by any one approved credit institution and any of its connected companies together with deposits held in that institution and any of its connected companies (not being a dependant of the society). | 20% |
| 15. Cash. | 3% |
| 16. Computer equipment. | 5% |
| 17. Office machinery (other than computer equipment), furniture, motor vehicles and other equipment. | 2½% |
PART II
18. In this Schedule, a company is connected with another company if it is—
(a)a subsidiary of that other company; or
(b)the holding company of that other company; or
(c)a subsidiary of the holding company of that other company.
19. In this Schedule, references to “subsidiary” and “holding company” shall have the same meanings as they have in section 96 of the 1982 Act.
O.J. No. L375, 31.12.85, p.3. Directive last amended by Directive 88/220/EEC (O.J. No. L100, 19.4.88, p.31.)