{
  "url": "https://openlegislation.uk/building-societies-efta-states-order-1994/schedule-1/paragraph-6",
  "json_url": "https://openlegislation.uk/building-societies-efta-states-order-1994/schedule-1/paragraph-6.json",
  "legislation": "uksi/1994/655",
  "legislation_title": "The Building Societies (EFTA States) Order 1994",
  "legislation_url": "https://openlegislation.uk/building-societies-efta-states-order-1994",
  "path": "schedule/1/paragraph/6",
  "kind": "paragraph",
  "number": "6",
  "heading": null,
  "text": "Where a society, in exercise of its powers arising as a result of having taken the specified security over land on which a specified advance is made, takes possession of the land, the land shall until sale be classified—\n(a) if the advance was most recently classified as a class 1 advance by virtue of this Order, as a class 1 asset, and\n(b) if the advance was most recently classified as a class 2 advance by virtue of this Order, as a class 2 asset,\nfor the purposes of the requirements of Part III of the Act for the structure of commercial assets.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1994/655/schedule/1/paragraph/6",
    "retrieved_at": "2026-10-29T13:37:52.529914+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}