{
  "url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992/schedule-6/paragraph-9",
  "json_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992/schedule-6/paragraph-9.json",
  "legislation": "uksi/1992/359",
  "legislation_title": "The Building Societies (Accounts and Related Provisions) Regulations 1992",
  "legislation_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992",
  "path": "schedule/6/paragraph/9",
  "kind": "paragraph",
  "number": "9",
  "heading": "Construction of references to shares held by society",
  "text": "(1) References in this Part of this Schedule to shares held by a society shall be construed as follows.\n(2) For the purposes of paragraphs 2 to 5—\n(a) there shall be attributed to the society any shares held by a subsidiary undertaking, or by a person acting on behalf of the society or a subsidiary undertaking; but\n(b) there shall be treated as not held by the society any shares held on behalf of a person other than the society or a subsidiary undertaking.\n(3) For the purposes of paragraphs 6 to 8—\n(a) there shall be attributed to the society shares held on its behalf by any person; but\n(b) there shall be treated as not held by a society shares held on behalf of a person other than the society.\n(4) For the purposes of paragraphs 2 to 8, shares held by way of security shall be treated as held by the person providing the security—\n(a) where apart from the right to exercise them for the purposes of preserving the value of the security, or of realising it, the rights attached to the shares are exercisable only in accordance with his instructions, and\n(b) where the shares are held in connection with the granting of loans as part of normal business activities and apart from the right to exercise them for the purpose of preserving the value of the security, or of realising it, the rights attached to the shares are exercisable only in his interests.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1992/359/schedule/6/paragraph/9",
    "retrieved_at": "2026-10-29T14:28:48.730066+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}