BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 82 Account and auditors' report to be annexed to balance sheet.

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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 82

Account and auditors' report to be annexed to balance sheet.

82.(1) The directors shall prepare for submission at the annual general
meeting a report on the state of the affairs of the building society.

(2) The directors' report shall include a statement setting out for the
financial year last ending before the annual general meeting at which the
directors' report is submitted

(a)the total amount advanced during the financial year by the building society
on the security of freehold or leasehold estate, and the total number of
mortgages executed in favour of the society during that year;

(b)the proportion of the total amount advanced by the building society as
mentioned in paragraph (a) which represents special advances, and the number
of mortgages executed during that financial year to secure special advances;

(c)the total amount of money received during the financial year by way of
investments in, or loans to, the building society from members or depositors,
and the total amount of money paid out by the society by way of repayment of
the principal value of shares in the society, or by way of repayment of sums
lent to the society by depositors;

(d)the number of cases in which, at the end of the financial year, a mortgagor
was in arrears with payments due to the society under his mortgage on account
of principal and interest to an amount which exceeded the amount which fell
due under the mortgage on account of principal and interest in that
financial year; and

(e)the total of the amounts of the arrears at the end of the financial year in
all the cases falling within paragraph (d).

(3) The directors' report shall be attached to the balance sheet; and if any
copy of a balance sheet is issued, circulated or published without having
attached to it a copy of the directors' report, the building society, and
every officer of the society who is in default, shall be liable on summary
conviction to a fine not exceeding two hundred pounds.

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Northern Irish Legislation

BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 82