# The Building Societies (Designation of Qualifying Bodies) Order 1990, Article 3: Designation of bodies corporate


(1) Each appropriate vehicle individually specified or of a description specified in an item in column 1 of Part I of the Schedule hereto is designated for the purposes of section 18 of the Act (power to invest in subsidiaries and other associated bodies) and within that Part of that Schedule—
(a) the corresponding item in column 2 specifies, where that appropriate vehicle is individually so specified, the number under which it is registered under the Companies Act 1985 or the state in which it is registered or incorporated together with (if any) its number of registration or incorporation in that state or, where that appropriate vehicle comes within a description so specified, the meaning of that description for the purposes of this Order,
(b) the corresponding item in column 3 specifies, subject to article 4 below, whether that appropriate vehicle is designated—
(i) as suitable for investment and support or support, or
(ii) as suitable for investment and support (and accordingly not for support in the absence of investment),
(c) the corresponding item (if any) in column 4 specifies the purposes for which (in addition to the purposes permitted by section 18(4) of the Act) the exercise of the relevant power by a society is permitted in relation to that appropriate vehicle, and
(d) the corresponding item (if any) in column 5 specifies the provision (if any) for different descriptions of societies in relation to which, the limits (if any) on the extent to which, and the condition (if any) subject to which, the exercise of the relevant power by a society is permitted in relation to that appropriate vehicle.
(2) Part II of the Schedule to this Order shall have effect—
(a) so as to supplement Part I thereof, and
(b) in respect of the interpretation of that Schedule.

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Source: https://www.legislation.gov.uk/uksi/1990/1434/article/3 (the official version)
Page: https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-order-1990/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.