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Article 2 Interpretation

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

In this Order—

  • “the Act” means the Building Societies Act 1986,

  • “aggregated” means aggregated for the purposes of the first criterion in section 45(3) (criteria of prudent management) of the Act,

  • “balance sheet” means a balance sheet within annual accounts a copy of which has been sent to the Commission and the central office under section 81(2) (laying and furnishing accounts) of the Act,

  • “society” means a building society, and

  • “supplementary capital” means a description of capital resource which is by virtue of and subject to the provisions of this Order to be aggregated with the reserves of a society.