OpenLegislation

Article 2 Interpretation

Original text. Later amendments are not shown.

(1)

In this Order, except where the context otherwise requires—

  • “the Act” means the Building Societies Act 1986;

  • “EFTA State” means any of Austria, Finland, Iceland, Liechtenstein, Norway, Sweden and Switzerland.;

  • “relevant provision” means a provision of the Act which applies in relation to advances secured on land;

  • “society” means a building society;

  • “specified advance” means an advance which a society may make by virtue of this Order;

  • “specified country” means an EFTA State, and “specified countrie” shall be construed accordingly; and

  • “specified security” means the form of security to which paragraph 1 of Schedule 1 to this Order refers.

(2)

For the purposes of this Order, a provision of the Act which applies in relation to advances fully secured on land shall be treated as one which applies in relation to advances secured on land.