# The Building Societies (Banking Institutions) Order 1987, Article 2: Amendment of provisions of the Building Societies Act 1986


The Building Societies Act 1986 shall be amended as follows:
(a) in section 7(4) (which identifies non-retail funds and deposits), for paragraph (bb) there shall be substituted the following paragraph:
“(bb) sums deposited otherwise than in excepting circumstances with the society by, or by a trustee for, an institution which is —
(i) an authorised institution, for the purposes of, or
(ii) an overseas institution for the purposes of Part IV of,
the Banking Act 1987;”; and
(b) in Schedule 8 (services), in paragraph 7(a) of Part III, for the words “recognised bank or licensed institution” there shall be substituted the words “authorised institution”.

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Source: https://www.legislation.gov.uk/uksi/1987/1670/article/2 (the official version)
Page: https://openlegislation.uk/building-societies-banking-institutions-order-1987/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.