# The Building Societies (Liquid Asset) (Amendment) Regulations 1989

S.I. 1989/1701 · made 19 September 1989

These Regulations remove the restriction in the Building Societies (Liquid Asset) Regulations 1987 which, except in the case of cash, limited the liquid assets which a building society may hold under section 21 of the Building Societies Act 1986 to enable it to meet its liabilities as they arise to assets representing liabilities expressed in sterling.

Made under: Building Societies Act 1986 (Section 21)

PDFs: Printed copy https://openlegislation.uk/building-societies-liquid-asset-amendment-regulations-1989/pdf/uksi_19891701_en.pdf

## Introductory text

BUILDING SOCIETIES
Made 19th September 1989
Laid before Parliament 28th September 1989
Coming into force 1st November 1989
The Building Societies Commission, with the consent of the Treasury, in exercise of the powers conferred upon it by section 21(7) of the Building Societies Act 1986, and of all other powers enabling it in that behalf, hereby makes the following Regulations:

## 1 Citation and commencement

These Regulations may be cited as the Building Societies (Liquid Asset) (Amendment) Regulations 1989 and shall come into force on 1st November 1989.

## 2 Amendment of previous Regulations

Paragraph 1 of Part II of the Schedule to the Building Societies (Liquid Asset) Regulations 1987 (which provides that an asset, other than cash, which comes within Part I of the Schedule to the Regulations is a liquid asset only where any obligation of the person whose liability that asset represents to make any payment in respect thereof is expressed in sterling) shall cease to have effect.

## Signature

In witness whereof the common seal of the Building Societies Commision is hereunto fixed, and is authenticated by me, a person authorised under paragraph 14 of Schedule 1 to the Building Societies Act 1986, on 11th September 1989.
P. H. Gevers
Secretary to the Commission
We consent to this Order.
Nigel Lawson
David Lightbown
Two of the Lords Commissioners of Her Majesty’s Treasury
19th September 1989

## Explanatory note

(This note is not part of the Regulations)
These Regulations remove the restriction in the Building Societies (Liquid Asset) Regulations 1987 which, except in the case of cash, limited the liquid assets which a building society may hold under section 21 of the Building Societies Act 1986 to enable it to meet its liabilities as they arise to assets representing liabilities expressed in sterling.

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Source: https://www.legislation.gov.uk/uksi/1989/1701 (the official version)
Page: https://openlegislation.uk/building-societies-liquid-asset-amendment-regulations-1989
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.