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Explanatory note

Original text. Later amendments are not shown.

(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.