OpenLegislation

Article 2 Interpretation

Original text. Later amendments are not shown.

(1)

In this Order—

  • “the 1986 Act” means the Building Societies Act 1986f1;

  • “the Authority” means the Financial Services Authorityf2;

  • “qualifying institution” means the Treasury, the Bank of England, another central bank of a Member State of the European Economic Area or the European Central Bank;

  • “relevant building society” means any building society which—

    1. (a)

      receives financial assistancef3 from a qualifying institution,

    2. (b)

      has entered into an agreement with a qualifying institution under which it may receive financial assistance from that institution, or

    3. (c)

      has received an offer of such an agreement, or of financial assistance, from a qualifying institution;

  • “section 1(1)(a) function” means the function of the Authority set out in section 1(1)(a) of the 1986 Act (functions of the Authority)f4.

(2)

References in this Order to a qualifying institution include—

(a)

any person acting for or on behalf of that qualifying institution;

(b)

any person providing, offering, or entering into an agreement for the provision of, financial assistance to a building society, who does so on the basis of financial assistance that person receives from the qualifying institution in question 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 257 of the Banking Act 2009.

f4

Section 1 was substituted by S.I. 2001/2617.