# Building Societies Act 1986, Paragraph 3

Extent: E+W+S+N.I.

The operation or termination of the account of a member borrowing on a class 1 or class 2 advance and the grant or refusal to grant a borrowing member of that description other or further class 1, or as the case may be, class 2 advances secured on the same or different land or other facilities normally available to borrowing members of his description.
Note: The operation or termination of the account of a borrowing member includes any aspect of the relationship or the termination of the relationship between the society and a borrowing member as such, including in particular the exercise of the right of foreclosure or any other power over the land by virtue of the mortgage.
Note: The grant of advances includes the terms on which they are granted.

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Source: https://www.legislation.gov.uk/ukpga/1986/53/schedule/12/part/II/crossheading/borrowing-members-class-1-or-class-2-advances/paragraph/3 (the official version)
Page: https://openlegislation.uk/building-societies-act-1986/schedule-12/part-II/crossheading-borrowing-members-class-1-or-class-2-advances/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.