# The Building Societies (Designation of Relevant Estate Agencies) Order 1988, Article 2: Designation of relevant estate agencies


(1) Subject to paragraph (2) below, a body corporate which is a relevant estate agency is designated for the purposes of section 18 of the Building Societies Act 1986 (power to invest in associated bodies) as a body corporate suitable for investment and support by a building society.
(2) The power to invest in and support a body corporate which is a relevant estate agency is not available to a building society except where that body corporate is, or by virtue of that investment becomes, a subsidiary of that building society.
(3) For the purposes of this article a body corporate is a relevant estate agency if—
(a) it does not come within section 18(2)(a) or (b) of the Building Societies Act 1986, but
(b) subject to that, it is a body corporate (formed in a relevant British overseas territory) as regards which, and the business of which, the conditions set out in paragraph 12 of Part III (restrictions in relation to certain services) of Schedule 8 to the Building Societies Act 1986 are fulfilled.

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Source: https://www.legislation.gov.uk/uksi/1988/23/article/2 (the official version)
Page: https://openlegislation.uk/building-societies-designation-of-relevant-estate-agencies-order-1988/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.