# Building Societies Act 1986, Paragraph 38

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

(1) Subject to sub-paragraph (2) below, Article 27 of the Order (general powers of administrator) has effect as if it required the administrator of a building society, in exercising his powers under that Article—
(a) to ensure compliance with the provisions of this Act; and
(b) not to appoint to be a director any person who is not a fit and proper person to hold that position.
(2) Sub-paragraph (1)(a) above does not apply in relation to section 5, 6 or 7 of this Act . . ..
(3) In paragraph (4) of that Article as applied to a building society, the reference to any power conferred by the Order or the Companies Acts or by the company’s articles is a reference to any power conferred by this Act or by the society’s memorandum or rules.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/1986/53/schedule/15A/paragraph/38 (the official version)
Page: https://openlegislation.uk/building-societies-act-1986/schedule-15A/paragraph-38
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.