{
  "url": "https://openlegislation.uk/building-societies-act-1986-commencement-no-1-order-1986/schedule-2",
  "json_url": "https://openlegislation.uk/building-societies-act-1986-commencement-no-1-order-1986/schedule-2.json",
  "legislation": "uksi/1986/1560",
  "legislation_title": "The Building Societies Act 1986 (Commencement No. 1) Order 1986",
  "legislation_url": "https://openlegislation.uk/building-societies-act-1986-commencement-no-1-order-1986",
  "path": "schedule/2",
  "kind": "schedule",
  "number": "2",
  "heading": "PROVISIONS OF THE ACT COMING INTO OPERATION ON 1ST JANUARY 1987",
  "text": "PROVISION OF THE ACT\nSUBJECT-MATTER OF PROVISION\nPart II, except as is specified for section 7 in Schedule 1 to this Order.\nConstitution of building societies.\nPart III, except so far as—\n(a) is specified for section 18 in Schedule 1 to this Order, or\n(b) that section empowers building societies to invest in or support corresponding European bodies.\nAdvances, loans and other assets.\nPart IV.\nProtection of investors.\nSection 34.\nPowers to provide financial services or services relating to land.\nPart VI, except—\n(a) section 36(5), (6), (8), (9), (11)(b), (c), (e) and (f) and (12), and\n(b) as is specified for sections 38 to 40 in Schedule 1 above.\nPowers of control of the Commission.\nPart VII.\nManagement of building societies.\nPart VIII.\nAccounts and audit.\nPart IX, except sections 83(1) to (5) and 84(8) to (10).\nComplaints and disputes.\nSection 90, so far as it relates to paragraphs 58 and 59 of Schedule 15 to the Act.\nApplication of winding up legislation to building societies.\nSections 93 to 96.\nMergers.\nSection 103(1), so far as it relates to societies dissolved by virtue of section 93(5) or 94(10).\nCancellation of registration.\nSection 103(2) to (9).\nCancellation of registration.\nSection 104.\nPower to amend, etc. to assimilate to company law.\nSection 105.\nLimited power to anticipate future statutory instrument powers.\nSection 106.\nPublic file of the society.\nSection 107.\nRestriction on use of certain names and descriptions.\nSection 108.\nPower to require building society to change misleading name.\nSection 109, except as is specified in Schedule 1 to this Order.\nExemption from stamp duty.\nSection 110.\nOfficers and auditors not to be exempted from liability.\nSection 111.\nTime limit for commencing proceedings.\nSection 112(2).\nOffences: liability of officers.\nSection 113, except as is specified in Schedule 1 to this Order.\nEvidence.\nSection 114.\nRecords.\nSection 117.\nFinancial year of building societies.\nSection 120, except—\n(a) so far as subsection (2) relates to the repeal of any provision in—\n(i) the 1874 Act,\n(ii) the 1894 Act, or\n(iii) Schedule 5 to the 1960 Act,\nor of sections 28 to 31 (dealing with advances) or Part VII (dealing with dissolution and winding up) of the 1962 Act and the 1967 Act respectively, and\n(b) so far as subsection (4)—\n(i) has come into operation by virtue of section 126(3) of the Act, or\n(ii) is specified in Schedule 1 to this Order.\nAmendments, repeals, revocations and transitional and saving provisions.\nSchedule 2, except paragraph 30.\nEstablishment, incorporation and constitution of building societies.\nSchedule 3.\nAuthorisation: supplementary provisions.\nSchedule 4.\nAdvances: supplementary provisions.\nSchedule 5.\nThe Building Societies Investor Protection Board.\nSchedule 6.\nInsolvency payments: trusts and joint or client account holdings.\nSchedule 7.\nInvestors: special provisions.\nSchedule 8.\nPowers to provide services.\nSchedule 9.\nDirectors: requisite particulars of restricted transactions.\nSchedule 10.\nRequisite particulars of income of related businesses.\nSchedule 11.\nAuditors: appointment, tenure, qualifications.\nSchedule 12.\nSchemes for investigation of complaints.\nSchedule 13.\nSchemes for investigation of complaints: recognition, accession, etc.\nSchedule 14.\nSettlement of disputes.\nSchedule 15, paragraphs 58 and 59.\nInsolvency of rules and fees.\nSchedule 16.\nMergers: supplementary provisions.\nSchedule 18.\nAmendments of enactments.\nSchedule 19, so far as is also specified for section 120(2) in this Schedule.\nRepeals and revocations.\nSchedule 20, paragraphs 3 to 6.\nAdoption of powers and alteration of rules (paragraph 3); default powers (paragraph 4); registration with existing authorities (paragraph 5); authorisation under existing enactments (paragraph 6).\nSchedule 20, paragraphs 12 to 16.\nPermissible securities for advances (paragraphs 12 and 13); existing business names (paragraph 14); directors in office (paragraph 15); existing financial years (paragraph 16).\nSchedule 20, paragraph 18.\nProvision of conveyancing services for building societies.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1986/1560/schedule/2",
    "retrieved_at": "2026-10-29T16:41:39.111222+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."
}