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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Building Societies (Designation of Qualifying Bodies) (Amendment) (No 3) Order 1990 No. 514 URL: http://www.bailii.org/uk/legis/num_reg/1990/uksi_1990514_en.html |
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Statutory Instruments
BUILDING SOCIETIES
Made
5th March 1990
Laid before Parliament
8th March 1990
Coming into force
1st April 1990
The Building Societies Commission, with the consent of the Treasury, in exercise of the powers conferred on it by section 18(2)(c) of the Building Societies Act 1986(1), and of all other powers enabling it in that behalf, hereby makes the following Order:
1. This Order may be cited as the Building Societies (Designation of Qualifying Bodies) (Amendment) (No.3) Order 1990 and shall come into force on 1st April 1990.
2. The Building Societies (Designation of Qualifying Bodies) Order 1988(2)shall have effect subject to the amendments set out in Article 3 below.
3. To Part I of the Schedule (bodies corporate, and descriptions of bodies, designated) there shall be added after the item numbered 6E an item numbered "6F" comprising the following entries in the columns of that Part -
(a)in column 1 (specified name or description), "County Court Users Association",
(b)in column 2 (specified registration number or definition), "a company having as its principal purpose the representation of the interests of all persons who regularly issue proceedings out of the County Courts in England and Wales.",
(c)in column 3 (specified relevant power), "Investment and support or support.",
(d)in column 4 (specified purposes (if any)), "Facilitating the representation of the society's interest, as a person regularly issuing proceedings out of the County Courts in England and Wales, in improving the service to the society of such courts including the making of representations as to court procedures and changes in the law in relation thereto which affect the society.",
(e)in column 5 (specified limits and conditions (if any)), "-".
In witness whereof the common seal of the Building Societies Commission is hereto fixed, and is authenticated by me, a person authorised under paragraph 14 of Schedule 1 to the Building Societies Act 1986, on 28th February 1990.
P H Gevers
Secretary to the Commission
We consent to this Order
John Taylor
Stephen Dorrell
Two of the Lords Commissioners of Her Majesty's Treasury
5th March 1990
(This note is not part of the Order)
This Order amends the Building Societies (Designation of Qualifying Bodies) Order 1988, which designates corporate bodies and typesof corporate body as suitable for investment and support or for support by building societies under section 18 of the Building Societies Act 1986.
The Order adds a body corporate described as County Court Users Association to the list of designated bodies, as suitable for investment and support by a building society, or for support in the absence of investment (article 3 at (c)).
Investment is defined by section 18 of the Act as acquiring and holding shares in and forming, or taking part in forming, bodies corporate. Support is defined by that section as the provision of loans, grants, guarantees, services or property to bodies corporate.
The permitted purposes, for investment or support by society, include the making of representations on county court procedures and the law relating to them in England and Wales.
