The Building Societies (General Charge and Fees) Regulations 1987
These Regulations supersede the Building Societies (General Charge and Fees) Regulations 1986 (“the 1986 Regulations”), which are revoked. They provide for a general charge to be paid by authorised building societies towards the expenses of the Building Societies Commission. The charge is levied with respect to the Commission’s accounting year beginning on 1st April 1987 and ending on 31st March 1988, and is expected to raise £1.95 million. Each society is required to pay a sum equal to 0.002% of its assets, subject to prescribed minimum and maximum amounts. The charge payable under the 1986 Regulations in respect of the Commission’s initial accounting year of just over 6 months was 0.001% of assets, also subject to prescribed minima and maxima.