The Building Societies (General Charge and Fees) Regulations 1988
These Regulations supersede the Building Societies (General Charge and Fees) Regulations 1987 (“the 1987 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 1988 and ending on 31st March 1989, and is expected to raise £2.322 million. Each society is required to pay a sum equal to 0.0021% of its assets, subject to prescribed minimum and maximum amounts.