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Friendly Societies (Accounts and Related Provisions) Regulations 1994 [SI 1994 No. 1983]Introductory TextPart I Preliminary (regs. 1-3)Regulation 1 Citation and commencementRegulation 2 InterpretationRegulation 3 ApplicationPart II Accounts (regs. 4-11)Regulation 4 Annual accounts - single accounts societyRegulation 5 Annual accounts - group accounts societyRegulation 6 Content and form of accountsRegulation 7 Group accounts - supplementary provisionsRegulation 8 Notes to annual accountsRegulation 9 Associated bodiesRegulation 10 Accounting principles and rulesRegulation 10A Accounts to have regard to substance of a transactionRegulation 11 Annual accounts - non-directive societyPart III Committee of management's annual report (reg. 12)Regulation 12 Committee of management's annual reportPart IV Miscellaneous and general (regs. 13-14)Regulation 13 Transitional provisionsRegulation 14 Interpretation of SchedulesSchedule 1Schedule 1, Part I Income and expenditure account formatSchedule 1, Part II Format of consolidated income and expenditure accountSchedule 1, Part III Notes on the income and expenditure formatSchedule 2Schedule 2, Part I Balance sheet formatSchedule 2, Part II Format of consolidated balance sheetSchedule 2, Part III Notes on the balance sheet formatSchedule 2, Part IV Special rules for balance sheet formatSchedule 3 Form and content of the annual accounts of a group accounts societySchedule 4 Notes to annual accountsSchedule 5 Notes to annual accounts: Information in respect of associated bodiesSchedule 5, Part I Societies not required to prepare consolidated accounts (paras. 1-8)Schedule 5, Part II Societies required to prepare consolidated accounts (paras. 9-20)Schedule 5, Part III Supplementary provisions (paras. 21-22)Schedule 6 Accounting principles and rulesSchedule 6, Part I Accounting principles (paras. 1-6)Schedule 6, Part II Departure from accounting principles (para. 7)Schedule 6, Part III Current value accounting rules (paras. 8-17)Schedule 6, Part IV Historical cost accounting rules (paras. 18-24)Schedule 6, Part IVA Valuation at Fair Value (paras. 24A-24F)Schedule 6, Part V Miscellaneous and supplemental (paras. 25-32)Schedule 6, Part VI Rules for determining provisions (paras. 33-40)Schedule 7 Annual accounts of non-directive societySchedule 7, Part I Format of non-directive society income and expenditure accountSchedule 7, Part II Format of non-directive society balance sheetSchedule 7, Part III Notes to annual accounts of non-directive societySchedule 8 Committee of management's annual reportSchedule 8, Part I Society (paras. 1-11)Schedule 8, Part II Non-directive society (para. 12)Schedule 9 Interpretation of SchedulesSignatureExplanatory Note
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 September 1994 - onwards
Version 2 of 2

Schedule 8, Part I Society (paras. 1-11)

Regulation 12

1. There must be stated names of the persons who, at any time during the financial year, were members of the committee of management of the society. There must be stated the name of the person or persons who at any time during the year held the position of chief executive of the society.

2. The committee of management’s annual report must contain:

(a) a statement of the business objectives and activities of the society and its jointly controlled bodies and subsidiaries;

(b) particulars of any events which have occurred since the end of the financial year and which are considered by the committee of management of the society to have an important effect on the society or any of its associated bodies, and

(c) an indication of the opinion of the committee of management of the society as to the developments which they consider likely to happen in the business of the society and its associated bodies.

3.

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