Building Societies Act 1965

Annual return

103 Duty to make annual return

(1)

Every society shall, in the first 3 months of each financial year, send to the Registrar for registration a return relating to its affairs for the previous financial year:

provided that a society need not make a return under this subsection in the financial year in which it is incorporated.

(2)

The annual return shall contain such information and be in such form as may be prescribed.

(2A)

The annual return must be signed by—

(a)

the manager or secretary of the society; and

(b)

a second person who is authorised to sign by the directors of the society and who is any of the following:

(i)

a director of the society:

(ii)

a qualified statutory accountant (as defined in section 5(1) of the Financial Reporting Act 2013):

(iii)

a lawyer (as defined in section 6 of the Lawyers and Conveyancers Act 2006).

(3)

[Repealed]

(4)

If a society fails to comply with any of the provisions of this section or of any regulations made for the purposes thereof, the society, and every officer of the society who is in default, shall be guilty of an offence against this Act.

Compare: 1908 No 18 ss 44, 45; Building Societies Act 1962 s 88(1)–(3), (5), (6) (UK)

Section 103(1): amended, on 20 September 2007, by section 7 of the Building Societies Amendment Act 2007 (2007 No 43).

Section 103(2): amended, on 30 May 2017, by section 5(1) of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).

Section 103(2A): inserted, on 30 May 2017, by section 5(2) of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).

Section 103(3): repealed, on 20 September 2007, by section 7 of the Building Societies Amendment Act 2007 (2007 No 43).