{
  "url": "https://openlegislation.uk/building-societies-non-retail-funds-and-deposits-order-1987/note",
  "json_url": "https://openlegislation.uk/building-societies-non-retail-funds-and-deposits-order-1987/note.json",
  "legislation": "uksi/1987/378",
  "legislation_title": "The Building Societies (Non-Retail Funds and Deposits) Order 1987",
  "legislation_url": "https://openlegislation.uk/building-societies-non-retail-funds-and-deposits-order-1987",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order amends section 7 of the Building Societies Act 1986 which empowers a building society to raise funds and borrow money and places a limit on non-retail funds and borrowing. This Order changes the coverage of that limited category in three respects:\n(a) it specifies the circumstances in which shares held or sums deposited by a body corporate in which individuals hold the beneficial interest are excluded from the category;\n(b) subject to (a), it includes all sums deposited by banking institutions within the category, notwithstanding any election by a society generally to treat balances of £50,000 or less as outside it; and\n(c) it widens the range of transferable instruments within the category, by including instruments which are freely transferable by means other than delivery.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1987/378/note",
    "retrieved_at": "2026-10-29T16:30:52.622085+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."
}