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6. After section 81A (requirements in connection with publication of accounts) (inserted by this Order) insert—
81B (1) In this Part—
“annual accounts”, in relation to a building society, means—
the individual accounts required by section 72A, and
any group accounts required by section 72E,together with the notes to those accounts;
“IAS Regulation” means EC Regulation No. 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards(1);
“income and expenditure account”, in relation to a society which prepares IAS accounts, includes an income statement or other equivalent financial statement required to be prepared by international accounting standards;
“international accounting standards” means the international accounting standards, within the meaning of the IAS Regulation, adopted from time to time by the European Commission in accordance with the IAS Regulation;
(2) References in this Part to accounts giving a “true and fair view” are references—
(a)in the case of Building Societies Act individual accounts, to the requirement under section 72B that such accounts give a true and fair view;
(b)in the case of Building Societies Act group accounts, to the requirement under section 72F that such accounts give a true and fair view; and
(c)in the case of IAS accounts, to the requirement under international accounting standards that such accounts achieve a fair presentation.”.
Official Journal L 243, 11/09/2002 P. 0001 – 0004.
O.J. L141 of 11.06.93 page 27, as last amended by Directive 2000/64/EEC of the European Parliament and of the Council (O.J. L290 of 17.11.2000, page 27).
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