The Building Societies (Prescribed Bands for Disclosure) Order 1987
This Order prescribes bands for the disclosure by a building society of the number of cases in which a business associate has acted for the society, and the aggregate of monetary amounts paid to it in respect of such cases. A business associate of a society is a conveyancing, valuing and surveying, accountancy or insurance agency business in which a director or other officer of the society has an interest. Section 69 of and Schedule 10 to the Building Societies Act 1986 require disclosure of the exact number of cases and aggregate monetary amount in respect of each specified activity of a business associate, save where bands are prescribed for disclosure by the Order, as here; where bands are prescribed a building society which so elects before the beginning of the financial year may instead disclose the band within which an estimate of the relevant number of cases and of the relevant aggregate falls. Any such election must be made in writing to the Building Societies Commission.