# Building Societies Act 1997, Paragraph 40


For section 92 of the 1986 Act there shall be substituted the following section—
“ Supplementary.
92 Where at any time a building society is being wound up or dissolved by consent, a borrowing member shall not be liable to pay any amount other than one which, at that time, is payable under the mortgage or other security by which his indebtedness to the society in respect of the loan is secured.”

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Source: https://www.legislation.gov.uk/ukpga/1997/32/schedule/7/paragraph/40 (the official version)
Page: https://openlegislation.uk/building-societies-act-1997/schedule-7/paragraph-40
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.