# The Building Societies (EFTA States) Order 1994, Article 3: Designation of specified countries


(1) Subject to paragraph (2) below, the specified countries are designated as countries as respects which advances under section 14 of the Act (power to make advances secured on land overseas) may be secured on land.
(2) Schedule 1 to this Order shall have effect in respect of—
(a) the forms of security on land which may be taken for such advances,
(b) the circumstances in, and the conditions subject to which, such forms of security may be taken, and
(c) the classification of specified advances as class 1 advances or class 2 advances for the purposes of the requirements of Part III of the Act for the structure of commercial assets,
in relation to the specified countries.

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Source: https://www.legislation.gov.uk/uksi/1994/655/article/3 (the official version)
Page: https://openlegislation.uk/building-societies-efta-states-order-1994/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.