BUILDING SOCIETIES Citation and commencement 1 These Regulations may be cited as the Building Societies (General Charge and Fees) Regulations 1987 and shall come into force on 1st April 1987. Interpretation 2 In these Regulations— “ the Act ” means the Building Societies Act 1986; “the accounting year 1987—88” means the period of 12 months ending on 31st March 1988; “amalgamation” means an amalgamation under section 93 of the Act; “the previous enactments” means the Building Societies Act 1962 and the Building Societies Act (Northern Ireland) 1967 ; “registered”, in relation to any time, means having the status of a society registered or deemed to be registered under the Act at that time; “the relevant year” means the period of 12 months ending on 31st December 1986; “society” means a building society; “transfer of engagements” means a transfer of engagements under section 19 of either of the previous enactments or under section 94 of the Act; and “union” means a union under section 18 of either of the previous enactments . General charge in respect of the Commission’s accounting year 1987—88 3 1 Each society which is authorised on the date on which these Regulations come into force shall by virtue of this paragraph assume on that date an obligation to pay, with respect to the accounting year 1987—88, a sum determined in accordance with paragraph (3) below. 2 Any society which is authorised during the accounting year 1987—88 only after the date on which these Regulations come into force shall by virtue of this paragraph assume, on the date it is first authorised, an obligation to pay with respect to that year a sum determined in accordance with paragraph (3) below unless— a the society was registered on the union or the amalgamation of two or more other societies, and b at least one of those other societies was a society to which paragraph (1) above applied. 3 the sum due in pursuance of an obligation assumed under paragraph (1) or (2) above (as the case may be) is— a in the case of any society a financial year of which ended in the relevant year— i a sum equal to 0.002 per cent of the aggregate value of the society’s assets as shown in its balance sheet as at the end of that financial year; ii £150,000, where that amount is less than the sum calculated in accordance with paragraph (i) of this sub-paragraph; or iii £500, where that amount is more than the sum calculated in accordance with paragraph (i) of this sub-paragraph; b in the case of any society to which sub-paragraph (a) above does not apply and which was formed on the union or amalgamation of two or more societies, financial years of which ended in the relevant year— i a sum equal to 0.002 per cent of the aggregate value of the assets of each of those societies as shown in their respective balance sheets as at the end of those respective financial years; ii £150,000, if the society was formed during the relevant year and that amount is less than the sum calculated in accordance with paragraph (i) of this sub-paragraph; iii £300,000, if the society was formed after the end of the relevant year and that amount is less than the sum calculated in accordance with paragraph (i) of this sub-paragraph; iv £500, if the society was formed during the relevant year and that amount is more than the sum calculated in accordance with paragraph (i) of this sub-paragraph; or v £1,000, if the society was formed after the end of the relevant year and that amount is more than the sum calculated in accordance with paragraph (i) of this sub-paragraph; c in the case of any society to which neither sub-paragraph (a) nor sub-paragraph (b) above applies, £500. 4 Where, after 31 December 1986 and before the date on which these Regulations come into force, a society has transferred its engagements to an authorised society under section 19 of either of the previous enactments or section 94 of the Act, the transferee society shall by virtue of this paragraph assume on that date an obligation to pay, with respect to the accounting year 1987—88, any sum which the transferor society would have assumed an obligation to pay had it been an authorised society on the date on which the Regulations come into force. Fee in respect of societies' public files 4 Each society which— a is registered on or after the date on which these Regulations come into force and before 1st April 1988; and b is not in the course of dissolution or winding up on the date on which these Regulations come into force, shall pay a fee of £105 in respect of the Central Office’s function under section 106 of the Act of maintaining the society’s public file during the accounting year 1987—88. Fees in respect of particular Commission functions 5 1 A society which applies for authorisation under section 9 of the Act shall pay a fee of £500 in respect of the exercise of the Commission’s functions under that section. 2 A society which proposes to merge with another society, and— a applies for consent under section 94(5) of the Act to proceed to undertake to fulfil the engagements of the other society pursuant to a board resolution, or b applies for approval under paragraph 1 of Schedule 16 to the Act of the contents of a statement concerning matters relevant to the merger, shall pay a fee of £2,600 in respect of the Commission’s functions in relation to the application and any functions it may exercise subsequently under section 95 of the Act with respect to the proposed merger. Fees in respect of particular Central Office functions 6 Any society which submits an application of a nature specified in Schedule 1 to these Regulations shall pay the relevant fee specified in respect of the examination of the application by the Central Office. Inspection and copying fees 7 Any person wishing to inspect or to be furnished with a copy of any document in the custody of the Central Office shall pay the relevant fee specified in Schedule 2 to these Regulations. Payment of the general charge and fees 8 1 Any sum due in pursuance of an obligation assumed under regulation 3 above in the case of a society which is authorised on the date on which these Regulations come into force is payable in two equal instalments, the first on 1st May 1987 and the second on 1st October 1987. 2 Any sum due under regulation 4 above in the case of a society which is registered on the date on which these Regulations come into force is payable on 1st May 1987. 3 Any sum due in pursuance of an obligation assumed under regulation 3 above in the case of a society authorised only after the date on which these Regulations come into force, or under regulation 4 in the case of a society registered only after that date, is payable within one month of the date on which the society is authorised or registered (as the case may be). 4 Any sum due under regulation 5 or regulation 6 in connection with an application made by a society is payable at the time the application is submitted. 5 Any sum due under regulation 7 in connection with a request to inspect or to be furnished with a copy of any document is payable at the time the request is made. Revocation of regulations relating to preceding accounting year 9 The Building Societies (General Charge and Fees) Regulations 1986 are hereby revoked. Tim Sainsbury Michael Neubert Two of the Lords Commissioners of Her Majesty’s Treasury 9th March 1987