Article 1 Citation and interpretation

(1)

This Order may be cited as the Building Societies Act 1997 (Expiry of Transitional Period) Order 1998.

(2)

In this Order “the transitional period” means the period defined in paragraphs 2(7) and 3(6) of Schedule 8 to the Building Societies Act 1997 as beginning with the commencement of sections 1 and 2 of the Building Societies Act 1997 on 1st December 1997^f1 and expiring with such day as the Commission, with the consent of the Treasury, prescribes by order made by statutory instrument.

Annotations

Footnotes

f1: Sections 1 and 2 of the Building Societies Act 1997 came into force under Article 2(2) and (5) of the Building Societies Act 1997 (Commencement No. 3) Order 1997 (S.I. 1997/2668 (C. 99)) for the building societies there described on 1st December 1997 and for the purpose of construing the definition of “the transitional period” in paragraph 2(7) or 3(6) of Schedule 8 to the Act those sections came into force on that date under Article 2(4) of the Order for the building societies falling within Article 2(3) of the Order.