# The Building Societies (Aggregation) (Amendment) Rules 1992, Note: Explanatory note


(This note is not part of the rules)
Following the making of The Building Societies (Designation of Qualifying Bodies) Order 1992 (S.I. 1992/649) these rules amend the Building Societies (Aggregation) Rules 1990 so as to attribute secured loans which are assets of an appropriate lending vehicle associated with a society by virtue of the above Order to the Class 2, or Class 3 assets, as the case may be, of the society. Such attribution will be in the proportion to the society’s interest in the company.
These rules also provide for the aggregation of assets and liabilities of corresponding European bodies and European lending companies.
Section 7, Section 8 and Section 20 of the Building Societies Act 1986 lay down the proportions of liabilities (non—retail); of liabilities which are not shares; and of assets (Class 1, 2 and 3), respectively, which a society and its associated bodies may hold.

---
Source: https://www.legislation.gov.uk/uksi/1992/2748/note (the official version)
Page: https://openlegislation.uk/building-societies-aggregation-amendment-rules-1992/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.