# The Building Societies (Designation of Qualifying Bodies) Order 1990, Paragraph 6C: Meaning of the condition for investment in Girobank plc


(1) In this Schedule “the condition for investment in Girobank plc” means a condition to the effect that a society shall not acquire shares in Girobank plc where the society is aware, and shall dispose of such shares in Girobank plc as it holds as soon as it is conveniently practicable to do so without undue loss where the society becomes aware, that Girobank plc:
(a) has a subordinate organisation which is not within the prescribed range,
(b) is a market maker, or
(c) is conducting business which includes activities in the range from which the society is restricted.
(2) For the purposes of subparagraph (1) above, a subordinate organisation comes within the prescribed range where it is—
(a) a body corporate individually specified in column 1 of Part I of this Schedule,
(b) a body corporate of a description specified in column 1 of Part I of this Schedule which is a one tier organisation, or
(c) The Office of the Banking Ombudsman.

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Source: https://www.legislation.gov.uk/uksi/1990/1434/schedule/paragraph/6C (the official version)
Page: https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-order-1990/schedule/paragraph-6C
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.