(1) The annual accounts of a friendly society or a registered branch shall conform to the requirements of this section and regulations made under it.
(2) The balance sheet shall give a true and fair view of the state of the affairs of the society or branch as at the end of the financial year.
(3) The income and expenditure account shall give a true and fair view of the income and expenditure of the society or branch for the financial year.
(4) Subsections (2) and (3) above, in their application to the group accounts of an incorporated friendly society, are to be read as referring to the society and (so far as it concerns the members of the society) the subsidiaries dealt with in the group accounts.
(5) The annual accounts shall also contain, whether in the form of notes or otherwise, such supplementary information as is prescribed.
(6) The Treasury shall by regulations, make provision with respect to the contents and the form of the annual accounts.
(7) Without prejudice to the ge