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Regulation 12
1. The principal Regulations are amended as follows.
2. In regulation 2 (interpretation)—
(a)in the definition of “group accounts society”, for “section 72 of the Act (duty of directors to prepare annual accounts)” substitute “section 72E of the Act (duty to prepare group accounts)”; and
(b)in the definition of “subsidiary undertaking”, for “section 72” substitute “section 72E”.
3.—(1) In regulation 4 (group accounts: supplementary provisions), for “subsections (2) and (3) of section 73 of the Act”, wherever occurring, substitute “subsection (2) of section 72F of the Act”.
4. In regulation 5 (notes to annual accounts)—
(a)in paragraph (1) after “required to be included” insert “by the Act and”;
(b)in paragraph (3) omit “relevant”; and
(c)omit paragraph (4).
5. In paragraph 2(3) of Schedule 4 (form and content of the annual accounts of a group accounts society), for “subsections (2) and (3) of section 73 of the Act” substitute “subsection (2) of section 72F of the Act”.
6.—(1) In paragraph 22 of Schedule 5 (reserves and provisions in notes to annual accounts), for “provisions for liabilities and charges”, wherever occurring, substitute “provisions for liabilities”.
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