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Building Societies Act 1986

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Changes over time for: Cross Heading: Subsidiary undertakings

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Building Societies Act 1986, Cross Heading: Subsidiary undertakings is up to date with all changes known to be in force on or before 28 March 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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[F1Subsidiary undertakingsU.K.

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F1Schs. 10A, 10B inserted (22.12.2004) (with effect in accordance with art. 1(2) of the amending S.I.) by The Building Societies Act 1986 (International Accounting Standards and Other Accounting Amendments) Order 2004 (S.I. 2004/3380), art. 1, Sch. para. 9

9.(1)The following information must be given with respect to the undertakings that are subsidiary undertakings of the society at the end of the financial year.U.K.

(2)The name of each undertaking must be stated.

(3)There must be stated–

(a)if it is incorporated outside the United Kingdom, the country in which it is incorporated;

(b)if it is unincorporated, the address of its principal place of business.

(4)It must be stated whether the subsidiary undertaking is included in the consolidation and, if it is not, the reason for excluding it from the consolidation must be given.

(5)It must be stated with respect to each subsidiary undertaking of the society by virtue of which of the conditions specified in [F2section 1162 of the Companies Act 2006] it is a subsidiary undertaking of the society.

(6)That information need not be given in relation to a subsidiary undertaking if—

(a)the relevant condition is that specified in subsection (2)(a) of that section, and

(b)the society that is its immediate parent undertaking (within the meaning of [F3section 1162 of the Companies Act 2006]) holds the same proportion of the shares in the undertaking as it holds voting rights.]

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