OpenLegislation

Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order prescribes 40% in place of 20% as the maximum percentage of a building society’s share and deposit liabilities which may be represented by non-retail funds and deposits. Liabilities in respect of non-retail funds and deposits are described in section 7(4) of the Building Societies Act 1986 as amended by the Building Societies (Non-Retail Funds and Deposits) Order 1987 (S.I. 1987/378) and the Building Societies (Banking Institutions) Order 1987 (S.I. 1987/1670).