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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order amends the Building Societies (Designation of Qualifying Bodies) Order 1986 by adding The Joint Credit Card Company Limited and Visa International Service Association to the bodies corporate designated as suitable for investment and support by building societies, and specifies the purposes (facility accounts) for which the powers to invest in and support those bodies may be exercised. The power is limited to societies with the qualifying asset holding (at least £100 million in commercial assets). EftPos UK Limited (formerly EFT-POS Administration Limited), which was already listed in the 1986 Order, is added to the other two named bodies as a company suitable for investment and support by those societies for those purposes.