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The Building Societies (Designation of Qualifying Bodies) (Amendment) (No 3) Order 1990

S.I. 1990/514 · Made 5 March 1990

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 5th March 1990

Laid before Parliament 8th March 1990

Coming into force 1st April 1990

The Building Societies Commission, with the consent of the Treasury, in exercise of the powers conferred on it by section 18(2)(c) of the Building Societies Act 1986f1, and of all other powers enabling it in that behalf, hereby makes the following Order:

Annotations to the whole text

Footnotes

f1

1986 c. 53

Contents

  1. 1Title and commencement
  2. 2Amendment of previous order
  3. 3Amendment of previous order
  4. Signature
  5. Explanatory note

1Title and commencement

This Order may be cited as the Building Societies (Designation of Qualifying Bodies) (Amendment) (No.3) Order 1990 and shall come into force on 1st April 1990.

2Amendment of previous order

The Building Societies (Designation of Qualifying Bodies) Order 1988f1shall have effect subject to the amendments set out in Article 3 below.

3Amendment of previous order

To Part I of the Schedule (bodies corporate, and descriptions of bodies, designated) there shall be added after the item numbered 6E an item numbered “6F” comprising the following entries in the columns of that Part —

(a)

in column 1 (specified name or description), “County Court Users Association”,

(b)

in column 2 (specified registration number or definition), “a company having as its principal purpose the representation of the interests of all persons who regularly issue proceedings out of the County Courts in England and Wales.”,

(c)

in column 3 (specified relevant power), “Investment and support or support.”,

(d)

in column 4 (specified purposes (if any)), “Facilitating the representation of the society’s interest, as a person regularly issuing proceedings out of the County Courts in England and Wales, in improving the service to the society of such courts including the making of representations as to court procedures and changes in the law in relation thereto which affect the society.”,

(e)

in column 5 (specified limits and conditions (if any)), “-”.

Signature

In witness whereof the common seal of the Building Societies Commission is hereto fixed, and is authenticated by me, a person authorised under paragraph 14 of Schedule 1 to the Building Societies Act 1986, on 28th February 1990.

P H Gevers

Secretary to the Commission

We consent to this Order

John Taylor

Stephen Dorrell

Two of the Lords Commissioners of Her Majesty’s Treasury

5th March 1990

Explanatory note

(This note is not part of the Order)

This Order amends the Building Societies (Designation of Qualifying Bodies) Order 1988, which designates corporate bodies and typesof corporate body as suitable for investment and support or for support by building societies under section 18 of the Building Societies Act 1986.

The Order adds a body corporate described as County Court Users Association to the list of designated bodies, as suitable for investment and support by a building society, or for support in the absence of investment (article 3 at (c)).

Investment is defined by section 18 of the Act as acquiring and holding shares in and forming, or taking part in forming, bodies corporate. Support is defined by that section as the provision of loans, grants, guarantees, services or property to bodies corporate.

The permitted purposes, for investment or support by society, include the making of representations on county court procedures and the law relating to them in England and Wales.