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Paragraph 1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

A liquid asset issued by a society which comes within paragraph 18 or 25 of Part I above may be held only where, immediately following its acquisition, the aggregate of values of liquid assets within those paragraphs so held did not exceed 2.5 per cent of the amount of the total assets of the holding society in its latest balance sheet laid before it at an annual general meeting.