# The Building Societies (Designation of Qualifying Bodies) Order 1993, Paragraph 4: Specification of particular restrictions for funding bodies


(1) In this Schedule “the particular restrictions for funding bodies” means the provisions set out in sub-paragraph (2) below.
(2) A body corporate is not a funding body for a society where—
(a) it is a market maker,
(b) it is an authorised institution, or its business requires it to be authorised, for the purposes of the Banking Act 1987 or it otherwise carries on a deposit taking business in the United Kingdom within the meaning of section 6 of the Banking Act 1987,
(c) its business includes activities in the range from which the society is restricted within the meaning of paragraph 5 below, or
(d) it owns 5% or more of shares or corresponding membership rights in another body corporate which the society does not have power to invest in and support or support.

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Source: https://www.legislation.gov.uk/uksi/1993/985/schedule/1/paragraph/4 (the official version)
Page: https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-order-1993/schedule-1/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.