13.—(1) A society may, with respect to a financial year preceding the financial year of the society to which these Regulations first apply, prepare such annual accounts as it would have been required to prepare had these Regulations not been made.
(2) Where any provision of these Regulations requires the recording of a particular item during or as at the end of a previous financial year, and where:
(a)that previous financial year ended before the coming into force of these Regulations; and
(b)the legislation in force as at the end of that previous financial year did not require the recording of that particular item,
then, if the records of the society are so kept as to enable that particular item to be identified, it must be identified and so recorded, but if the records of the society are not so kept, it must be included on the basis of an estimate.
(3) Where under paragraph (2) an estimate is used in respect of any item, that fact must be disclosed in a note to the accounts.
14. Schedule 9 has effect for the interpretation of the Schedules to these Regulations.