# The Building Societies (Prescribed Contracts) Order 1988, Part III: terms for swap option contracts


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 of the payment by one party to the agreement to the other of specified sums of money, the payer will have the right at specified times or during a specified period to enter into a prescribed contract on specified terms with the payee such terms including terms having the effect of the terms set out for swap contracts in Part I of this Schedule.

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Source: https://www.legislation.gov.uk/uksi/1988/1344/schedule/part/III (the official version)
Page: https://openlegislation.uk/building-societies-prescribed-contracts-order-1988/schedule/part-III
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.