# The Building Societies (Designation of Qualifying Bodies) (No. 3) Order 1992, Paragraph 1: Meaning of standard asset provision


In this Schedule “the standard asset provision” means a condition to the effect that—
(a) the relevant power is not available to a society which does not for the time being have a qualifying asset holding, but
(b) the cessation of its availability does not require the disposal of any property or rights.

---
Source: https://www.legislation.gov.uk/uksi/1992/651/schedule/paragraph/1 (the official version)
Page: https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-no-3-order-1992/schedule/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.