{
  "url": "https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-no-2-order-1992/note",
  "json_url": "https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-no-2-order-1992/note.json",
  "legislation": "uksi/1992/650",
  "legislation_title": "The Building Societies (Designation of Qualifying Bodies) (No. 2) Order 1992",
  "legislation_url": "https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-no-2-order-1992",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\n1 This Order designates a description of bodies corporate as suitable for investment and support by building societies under section 18 of the Building Societies Act 1986, so as to add “appropriate holding vehicle” as a further type of designated body.\n2 An appropriate holding vehicle is a body corporate which is a wholly-owned subsidiary of the society (not being one excluded by the particular restrictions for appropriate holding vehicles) formed for the purposes of, or the objects of which include, investment and support in one or more corporate bodies which the society has power to invest in and support or support under section 18 of the Act. The particular restrictions for appropriate holding vehicles are that a body corporate is not an appropriate holding vehicle for a society where: it is a market maker, its business requires it to be authorised for the purposes of the Banking Act 1987; its business includes activities the society itself has no power to undertake either because the society has not adopted the necessary adoptable power or because the activities would contravene a restriction on the extent of a power which the society has adopted.\n3 Investment is defined by section 18 of the Act as acquiring and holding shares or corresponding membership rights in and forming or taking part in forming, bodies corporate. Support is defined by that section as provision of loans, grants, guarantees, services or property to bodies corporate.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1992/650/note",
    "retrieved_at": "2026-10-29T14:25:41.813576+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}