Paragraph 43

(1)

Section 32 of the Building Societies Act 1997 is amended as follows.

(2)

In subsection (1), for “Bank” there is substituted “ Authority ”.

(3)

In subsection (3)(a), for “Governor of the Bank” there is substituted “ Chairman of the Authority ”.

(4)

In subsection (7), for the definition of “the Bank” there is substituted—

““the Authority” means the Financial Services Authority.”