SCHEDULEConsequential amendments to the 1986 Act
I12
1
Section 6 (the lending limit) is amended as follows.
2
In subsection (2), in the definition of “X”, in paragraph (a) omit “in pursuance of regulations under section 73(7)”.
3
In subsection (14), in the definition of “accounts”—
a
in paragraph (a) omit “under subsection (1) of section 72”; and
b
in paragraph (b) omit “under subsection (2) of that section”.
4
After subsection (15) insert the following—
16
In this section, in the case of societies which produce IAS individual accounts or IAS group accounts;
“fixed assets” means–
- a
land and buildings;
- b
plant and machinery;
- c
equipment, fixtures, fittings and vehicles;
- d
payments on account and assets in the course of construction; and
- e
intangible fixed assets.
“liquid assets” means–
- a
cash and cash equivalents;
- b
treasury bills and similar securities;
- c
loans and advances to credit institutions; and
- d
debt securities and other fixed income securities.