{
  "url": "https://openlegislation.uk/building-societies-prescribed-contracts-order-1988/schedule/part-II",
  "json_url": "https://openlegislation.uk/building-societies-prescribed-contracts-order-1988/schedule/part-II.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": "schedule/part/II",
  "kind": "part",
  "number": "II",
  "heading": "terms for sterling interest rate option contracts",
  "text": "A society agrees with a participant (whether by a single agreement with him or by a series of agreements to at least one of which he is a party) that in consideration for the payment by one party to the agreement to the other of specified sums of money in sterling, the payer will have the right at specified times or during a specified period to buy from or sell to the payee a specified security or a specified amount of a specified security at a specified price in sterling.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1988/1344/schedule/part/II",
    "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."
}