Paragraph 5
Within Asset item 4 of Parts I and II of this Schedule—
in item 4(a) there shall be included mobile home loans,
in item 4(b) there shall be included loans to which section 16 (power to lend to individuals) of the Act applies, facility debts (as defined in article 3(2) of the Building Societies (Limited Credit Facilities) Order 1987)f1, bridging debts (as defined in Part IV of Schedule I to the Building Societies (Commercial Assets and Services) Order 1988)f2 and money transmission service debts (as defined in article 3(2) of the Building Societies (Money Transmission Services) Order 1989)f3, and which do not fall to be included in item 4(c),
in item 4(c) there shall be included residual mortgage debts (as defined in Part I of Schedule 1 to the Building Societies (Commercial Assets and Services) Order 1988), leasable chattels (as defined in Part III of Schedule 1 to that Order) and loans or debts which would otherwise fall to be included in item 4(b) in accordance with subparagraph (b) but for the fact that the loan or debt is on any security, whether that security be partial or full and whether it comprises property or a guarantee,
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 also apply to any asset which arises from the activity of a subsidiary undertaking and would, were that subsidiary undertaking the society, be an asset to which that subdivision would apply.
Annotations
Footnotes
- f1
- f2
- f3