{
  "url": "https://openlegislation.uk/building-societies-jersey-order-1987/note",
  "json_url": "https://openlegislation.uk/building-societies-jersey-order-1987/note.json",
  "legislation": "uksi/1987/1872",
  "legislation_title": "The Building Societies (Jersey) Order 1987",
  "legislation_url": "https://openlegislation.uk/building-societies-jersey-order-1987",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order empowers building societies with commercial assets of at least £100 million to make advances on the security of land in Jersey, and provides for the classification of those advances within the asset classification provisions of the Building Societies Act 1986. By virtue of article 5 of this Order, the power to make such an advance does not require adoption by a special resolution of a society in order to be exercisable by it.\nThis Order provides (article 7 and Schedule 2) for the general treatment of those advances under the Building Societies Act 1986 to correspond to the treatment, under the Act, of advances secured on land in the United Kingdom.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1987/1872/note",
    "retrieved_at": "2026-10-29T16:18:42.811890+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."
}