{
  "url": "https://openlegislation.uk/building-societies-prescribed-contracts-amendment-order-1987/article-3",
  "json_url": "https://openlegislation.uk/building-societies-prescribed-contracts-amendment-order-1987/article-3.json",
  "legislation": "uksi/1987/1500",
  "legislation_title": "The Building Societies (Prescribed Contracts) (Amendment) Order 1987",
  "legislation_url": "https://openlegislation.uk/building-societies-prescribed-contracts-amendment-order-1987",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": "Amendment of 1986 Order",
  "text": "The 1986 Order shall be amended as follows —\n(a) in article 2 (interpretation), in the definition of “participant”, the words “(other than a guarantor)” shall be inserted after the word “contract”;\n(b) in article 3, paragraph (3) (which limits participants) shall be replaced by the following paragraph —\n“(3) No prescribed contract may be effected by a society save where the obligations of the participant thereunder fall to be performed by —\n(a) a person some of whose liabilities societies, or societies of a particular description, are empowered for the time being, under section 21 (liquid assets) of the Building Societies Act 1986, to hold as assets of an authorised character, or\n(b) a person performance of whose obligations under the contract is guaranteed by a person who comes within subparagraph (a) above.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1987/1500/article/3",
    "retrieved_at": "2026-10-29T16:21:05.521621+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."
}