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The Building Societies (Aggregation) (Amendment) Rules 1995

S.I. 1995/1187 · Made 3 May 1995

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

BUILDING SOCIETIES

Made 3rd May 1995

Laid before Parliament 5th May 1995

Coming into force 1st June 1995

The Building Societies Commission, with the consent of the Treasury, in exercise of the powers conferred on it by section 20(9) and (10) of the Building Societies Act 1986f1, hereby makes the following Rules:

Annotations to the whole text

Footnotes

f1

1986 c. 53; new limits were specified for the purposes of section 20(2) and (3) by S.I. 1988/1142.

Contents

  1. 1Title and commencement
  2. 2Amendment of principal Rules
  3. Signature
  4. Explanatory note

1Title and commencement

These Rules may be cited as the Building Societies (Aggregation) (Amendment) Rules 1995 and shall come into force on 1st June 1995.

2Amendment of principal Rules

Rule 7(2) of the Building Societies (Aggregation) Rules 1993f1 (which specifies the class to which aggregated assets are to be attributed) shall be amended by the deletion of the words from “except” to the end.

Signature

In witness whereof the common seal of the Building Societies Commission is hereunto fixed, and is authenticated by me, a person authorised under paragraph 14 of Schedule 1 to the Building Societies Act 1986, on 20th April 1995.

J. Dennis

Secretary to the Commission

We consent to these Rules

D. Conway

T. Kirkhope

Two of the Lords Commissioners of Her Majesty’s Treasury

3rd May 1995

Explanatory note

(This note is not part of the Rules)

These Rules amend the Building Societies (Aggregation) Rules 1993 by deleting the part of rule 7(2) which provides that if the aggregate amount of class 1 assets attributed to a society under rule 7(1) exceeds 15% of the society’s total commercial assets, the excess is to be attributed to class 2.

A review of the cost of compliance with these Rules has been undertaken and the resulting compliance cost assessment may be purchased from the Secretary, Building Societies Commission, 15 Great Marlborough Street, London W1V 2LL.