{
  "url": "https://openlegislation.uk/building-societies-liquid-asset-regulations-1991/schedule/part-II/paragraph-3",
  "json_url": "https://openlegislation.uk/building-societies-liquid-asset-regulations-1991/schedule/part-II/paragraph-3.json",
  "legislation": "uksi/1991/2580",
  "legislation_title": "The Building Societies (Liquid Asset) Regulations 1991",
  "legislation_url": "https://openlegislation.uk/building-societies-liquid-asset-regulations-1991",
  "path": "schedule/part/II/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "A loan which comes within paragraph 7(b) of Part I is a liquid asset only where—\n(a) it is secured by a charge on revenues of the relevant authority or on a fund into which such revenues are payable, or\n(b) it is made on the giving of—\n(i) a receipt for the loan by the Treasurer or other similar officer of the relevant authority, and\n(ii) an undertaking by the relevant authority that, if requested to charge the loan on revenues of the authority or on a fund into which such revenues are payable, it will either comply with the request or repay the loan.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "amended",
      "affecting": "uksi/1992/2930",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) Regulations 1992"
    },
    {
      "type": "added",
      "affecting": "uksi/1992/2930",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) Regulations 1992"
    },
    {
      "type": "amended",
      "affecting": "uksi/1992/2930",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) Regulations 1992"
    },
    {
      "type": "added",
      "affecting": "uksi/1992/2930",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) Regulations 1992"
    },
    {
      "type": "added",
      "affecting": "uksi/1992/2930",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) Regulations 1992"
    },
    {
      "type": "added",
      "affecting": "uksi/1992/2930",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) Regulations 1992"
    },
    {
      "type": "amended",
      "affecting": "uksi/1992/2930",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) Regulations 1992"
    },
    {
      "type": "added",
      "affecting": "uksi/1992/2930",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) Regulations 1992"
    },
    {
      "type": "added",
      "affecting": "uksi/1995/3064",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) (No. 2) Regulations 1995"
    },
    {
      "type": "amended",
      "affecting": "uksi/1995/550",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) Regulations 1995"
    },
    {
      "type": "substituted",
      "affecting": "uksi/1995/550",
      "affecting_title": "The Building Societies (Liquid Asset) (Amendment) Regulations 1995"
    },
    {
      "type": "words substituted",
      "affecting": "uksi/1998/1129",
      "affecting_title": "The Bank of England Act 1998 (Consequential Amendments of Subordinate Legislation) Order 1998"
    },
    {
      "type": "words substituted",
      "affecting": "uksi/1998/1129",
      "affecting_title": "The Bank of England Act 1998 (Consequential Amendments of Subordinate Legislation) Order 1998"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1991/2580/schedule/part/II/paragraph/3",
    "retrieved_at": "2026-10-29T14:34:26.514833+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}