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

Sch. word substituted by Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) 2001 art. 213(6)
Sch. para. 1 words substituted by Financial Services Act 2012 (Mutual Societies) 2013 Sch. 10 para. 5(2)(b)
Sch. para. 2 words substituted by Financial Services Act 2012 (Mutual Societies) 2013 Sch. 10 para. 5(2)(b)

Any changes in the terms on which loans by the transferring society to its borrowing members secured on land will be operated by the accepting society.