Paragraph 9 Meaning of candidate

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch, Pt II para(ii) amended by Building Societies (Designation of Qualifying Bodies) 1991
Sch, Pt II para(iii) amended by Building Societies (Designation of Qualifying Bodies) 1991
Sch, Pt II para(iv)(v)(vi) revoked by Building Societies (Designation of Qualifying Bodies) 1991
Sch, Pt II para(vii) amended by Building Societies (Designation of Qualifying Bodies) 1991

For the purposes of this Schedule—

(a)

a body corporate is “a candidate for authorisation” in respect of the carrying on of any business if it has been formed with a view to being authorised in that respect and is applying, or is taking steps to apply, for authorisation in that respect, and

(b)

a scheme is “a candidate for approval” under or for the purposes of any enactment if it has been prepared with a view to obtaining approval under or, as the case may be, for the purposes of that enactment and steps are being taken towards obtaining that approval.