18.—(1) There shall also be stated—
(a)the aggregate amount of the capital and reserves of the undertaking as at the end of its relevant financial year, and
(b)its profit or loss for that year.
(2) That information need not be given if—
(a)the undertaking is not required by any provision of the Companies Act 1985 or the Companies (Northern Ireland) Order 1986 to deliver a copy of its balance sheet for its relevant financial year and does not otherwise publish that balance sheet in the United Kingdom or elsewhere, and
(b)the holding of the group is less than 50 per cent. of the nominal value of the shares in the undertaking.
(3) Information otherwise required by this paragraph need not be given if its is not material for the purpose of giving a true and fair view for the society and its subsidiary undertakings as a whole, of the matters set out in subsections (2), (3) and (4) of section 73 of the Act.
(4) For the purpose of this paragraph the “relevant financial year” of an undertaking is—
(a)if its financial year ends with that of the society, that year, and
(b)if not, its financial year ending last before the end of the society’s financial year.