# The Building Societies (Money Transmission Services) Order 1989, Article 6: Class 3 asset limits


The aggregate of money transmission service debts owing to a society shall count in accordance with section 20 (commercial asset structure requirements) of the Act towards the limits applicable to class 3 assets under that section, and in calculating that aggregate–
(a) where the society has the power conferred by section 34(1) of and item 1 of Part I of Schedule 8 to the Act (power to provide banking services) and the power conferred by this Order, any current overdraft which could be permitted under either of those powers shall be treated as a money transmission service debt;
(b) where a money transmission service account holder holds other accounts with the society, the value of any shares or deposits in those other accounts shall not be taken into account;
(c) where the society has money transmission service accounts upon which there is no current indebtedness to the society, the balance of such accounts shall not be taken into account.

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Source: https://www.legislation.gov.uk/uksi/1989/730/article/6 (the official version)
Page: https://openlegislation.uk/building-societies-money-transmission-services-order-1989/article-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.