Building Societies Act 1986

[F1 1. (1) The following must be shown— U.K.

(a) the amount of any remuneration receivable by the society’s auditor for the auditing of the annual accounts, and

(b) the amount of any remuneration receivable in respect of the financial year by—

(i) the society’s auditor, or

(ii) any person who was, at any time during that financial year, an associate of the society’s auditor,

for the supply of other services to the society or any associate of the society.

(2) Where the remuneration includes benefits in kind, the nature and estimated money-value of those benefits must also be shown.

(3) Separate disclosure is required in respect of the auditing of the accounts in question and of each type of service specified in paragraph 2, but not in respect of each service falling within a type of service.

(4) Separate disclosure is required in respect of services supplied to the society and its subsidiaries on the one hand and to associated pension schemes on the other.

(5) Where more than one person has been appointed as a society’s auditor in respect of the financial year, separate disclosure is required in respect of the remuneration of each such person and his associates.

(6) Where a building society is required to prepare consolidated group accounts—

(a) those accounts must comply with sub-paragraph (1)(b) as if the undertakings included in the consolidation were a single building society, and

(b) notes to the society’s individual accounts do not have to disclose the information required by that provision if the notes state that the group accounts are so required.]

Textual Amendments

F1 Sch. 10C inserted (29.6.2008) by The Building Societies Act 1986 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1519), art. 1(2), Sch. 1 para. 1