# The Building Societies (Liquid Asset) Regulations 1987, Regulation 3: Prescription of liquid assets


(1) Each description of assets which—
(a) comes within a provision of Part I of the Schedule hereto, and
(b) where a provision of Part II of the Schedule hereto applies to it, conforms with the requirements of that provision,
is prescribed as a description of liquid assets.
(2) Part III of the Schedule hereto has effect for determining the circumstances in which, and the conditions subject to which, the descriptions of assets referred to therein may be held by societies.
(3) The definitions in Part IV of the Schedule hereto have effect in respect of the interpretation of that Schedule.

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Source: https://www.legislation.gov.uk/uksi/1987/1499/regulation/3 (the official version)
Page: https://openlegislation.uk/building-societies-liquid-asset-regulations-1987/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.