{
  "url": "https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-no-3-order-1992/schedule/paragraph-7",
  "json_url": "https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-no-3-order-1992/schedule/paragraph-7.json",
  "legislation": "uksi/1992/651",
  "legislation_title": "The Building Societies (Designation of Qualifying Bodies) (No. 3) Order 1992",
  "legislation_url": "https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-no-3-order-1992",
  "path": "schedule/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": "Meaning of investment and support limit for appropriate general insurance vehicles",
  "text": "In this Schedule—\n(1) “the investment and support limit for appropriate general insurance vehicles” means—\n(i) that the power to invest in an appropriate general insurance vehicle may be exercised only to the extent that the aggregate shareholding or corresponding membership rights, as the case may be, of the society and its associated bodies and subordinate organisations in the appropriate vehicle will not thereby equal or exceed 15 per cent of the equity share capital of that appropriate vehicle or equal or exceed 15 per cent of the corresponding membership rights, as the case may be, of that appropriate vehicle or otherwise cause the society, or the society and its associated bodies and subordinate organisations in combination, to be a controller of that appropriate vehicle, and\n(ii) that the power to support an appropriate general insurance vehicle does not include the power to guarantee the discharge of any of its liabilities.\n(2) For the purposes of paragraph (i) above, “controller” shall have the meaning which it has in the Insurance Companies Act 1982 as if such meaning applied to an appropriate general insurance vehicle.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1982 c. 50."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1992/651/schedule/paragraph/7",
    "retrieved_at": "2026-10-29T14:25:41.121265+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."
}