{
  "url": "https://openlegislation.uk/building-societies-prescribed-contracts-order-1988/article-3",
  "json_url": "https://openlegislation.uk/building-societies-prescribed-contracts-order-1988/article-3.json",
  "legislation": "uksi/1988/1344",
  "legislation_title": "The Building Societies (Prescribed Contracts) Order 1988",
  "legislation_url": "https://openlegislation.uk/building-societies-prescribed-contracts-order-1988",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": "Prescribed contracts",
  "text": "(1) Subject to paragraph (2) below, a society may, for the purposes of section 23(1) of the Act (which empowers societies with qualiftying asset holdings to hedge), effect prescribed contracts.\n(2) Where the security specified in a prescribed contract to which Part II of the Schedule hereto relates is an asset which is of a character which only societies of a particular description may hold under section 21 of the Act, the power to effect that contract is available only to a society of that description.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "rev in pt",
      "affecting": "uksi/1991/2582",
      "affecting_title": "The Building Societies (Prescribed Contracts) (Amendment) Order 1991"
    },
    {
      "type": "revoked",
      "affecting": "uksi/1991/2582",
      "affecting_title": "The Building Societies (Prescribed Contracts) (Amendment) Order 1991"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1988/1344/article/3",
    "retrieved_at": "2026-10-29T16:01:33.586993+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."
}