# The Building Societies (Liquid Asset) (Amendment) (No. 2) Regulations 1995, Regulation 2: Interpretation


In these Regulations—
“the Act” means the Building Societies Act 1986;
“liquid asset” means an asset of a character which societies may hold under section 21 (liquid assets) of the Act for the purpose of meeting their liabilities as they arise;
“predecessor” means, in relation to an existing society —
(a) a society which has transferred its engagements to that existing society, or
(b) a society which has amalgamated with one or more societies under section 93 (amalgamations) of the Act so as to establish that existing society as their successor; and
“society” means a building society.

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Source: https://www.legislation.gov.uk/uksi/1995/3064/regulation/2 (the official version)
Page: https://openlegislation.uk/building-societies-liquid-asset-amendment-no-2-regulations-1995/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.