Article 2 Interpretation

(1)

In this Order—

“the 1986 Act” means the Building Societies Act 1986^f1;
“the Authority” means the Financial Services Authority^f2;
“member” and “officer” have the same meaning as in the 1986 Act^f3;
“relevant building society” means any building society which—
1. (a)
  
  receives relevant financial assistance^f4 from the Bank of England,
2. (b)
  
  has entered into an agreement with the Bank of England under which it may receive relevant financial assistance from the Bank of England, or
3. (c)
  
  has received an offer of such an agreement, or of relevant financial assistance, from the Bank of England;
4. (d)
  
  “section 1(1)(a) function” means the function of the Authority set out in section 1(1)(a) of the 1986 Act.

(2)

References in this Order to the Bank of England include—

(a)

any person acting for or on behalf of the Bank of England;

(b)

any person providing, offering, or entering into an agreement for the provision of, relevant financial assistance to a building society, who does so on the basis of relevant financial assistance that person receives from the Bank of England for that purpose.

Annotations

Footnotes

f1: 1986 c.53.
f2: See section 1 of the Financial Services and Markets Act 2000 (c.8)
f3: See section 119(1) of, and paragraph 5 of Schedule 2 to, the Building Societies Act 1986. The definition of “member” in section 119(1) was substituted by the Building Societies Act 1997 (c.32), section 43 and Schedule 7, paragraph 53(1)(j). Paragraph 5 of Schedule 2 was amended by the Building Societies Act 1997, section 2(1) and (2).
f4: See sections 11(2) and 15(1) of the Banking (Special Provisions) Act 2008.