OpenLegislation

Paragraph 5

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Within Asset item 4 of Parts I and II above—

(a)

in item 4(a) there shall be included mobile home loans,

(b)

in item 4(b) there shall be included loans to which section 16 (power to lend to individuals) of the Act applies and which do not fall to be included in item 4(c),

(c)

in item 4(c) there shall be included loans on any security (whether partial or full and whether comprising property or a guarantee) to which section 16 of the Act applies, and

(d)

in item 4(d) there shall be included all property to which section 17 of the Act (power to hold and develop land), other than section 17(6), applies,

and each subdivision of that Asset item shall in Part II above also apply to any asset which arises from the activity of a relevant subsidiary and would, were that relevant subsidiary the society, be an asset to which that subdivision would apply.