The Friendly Societies (Accounts and Related Provisions) Regulations 1994

2.  The committee of management’s annual report must contain:

(a)a statement of the business objectives and activities of the society and its jointly controlled bodies and subsidiaries;

(b)particulars of any events which have occurred since the end of the financial year and which are considered by the committee of management of the society to have an important effect on the society or any of its associated bodies, and

(c)an indication of the opinion of the committee of management of the society as to the developments which they consider likely to happen in the business of the society and its associated bodies.