{
  "url": "https://openlegislation.uk/building-societies-act-1986/schedule-2/paragraph-29",
  "json_url": "https://openlegislation.uk/building-societies-act-1986/schedule-2/paragraph-29.json",
  "legislation": "ukpga/1986/53",
  "legislation_title": "Building Societies Act 1986",
  "legislation_url": "https://openlegislation.uk/building-societies-act-1986",
  "path": "schedule/2/paragraph/29",
  "kind": "paragraph",
  "number": "29",
  "heading": null,
  "text": "(1) A resolution of a building society shall be a borrowing members’ resolution when it has been passed by a majority of the borrowing members of the society voting in person or by proxy on a poll on the resolution at a meeting of the society of which notice specifying the intention to move the resolution as a borrowing members’ resolution has been duly given.\n(2) For the purposes of this Part of this Schedule, an individual who is indebted to a building society in respect of a loan fully secured on land is not a borrowing member of the society at any time if at that time the amount of his mortgage debt is less than the prescribed amount.\n(3) Where a borrowing member’s resolution approving a transfer of engagements by a building society is moved, only those borrowing members whose mortgages are to be transferred shall be entitled to vote on the resolution.\n(4) In any rules made by a building society after the commencement of this paragraph, “borrowing members’ resolution”, unless the context otherwise requires, means a borrowing members’ resolution as defined in this paragraph.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 2 Pt. III para. 29(1) substituted (1.12.1997 in specified cases and for specified purposes and otherwise in accordance with art. 2(2)(3)(5) of S.I. 1997/2668) by 1997 c. 32, ss. 43, 47(3), Sch. 7 para. 57(9); S.I. 1997/2668, art. 2, Sch. Pt. II(w)(z)(xxxiv)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Sch. 2 Pt. III para. 29(2) substituted (1.12.1997 in specified cases and for specified purposes and otherwise in accordance with art. 2(2)(3)(5) of S.I. 1997/2668) by 1997 c. 32, ss. 2(4), 47(3) (with s. 46(1), Sch. 8 paras. 4, 5); S.I. 1997/2668, art. 2, Sch. Pt. II(b)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "uksi/2026/1115",
      "affecting_title": "The Building Societies Act 1986 (Assimilation to Company Law and Changes to Funding Limit) Order 2026"
    },
    {
      "type": "omitted",
      "affecting": "uksi/2026/1115",
      "affecting_title": "The Building Societies Act 1986 (Assimilation to Company Law and Changes to Funding Limit) Order 2026"
    },
    {
      "type": "inserted",
      "affecting": "uksi/2026/1115",
      "affecting_title": "The Building Societies Act 1986 (Assimilation to Company Law and Changes to Funding Limit) Order 2026"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/53/schedule/2/paragraph/29",
    "retrieved_at": "2026-10-29T09:54:49.368285+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."
}