# The Building Societies (Financial Assistance) Order 2010, Article 7: Floating charges


(1) Section 9B(1) of the 1986 Act (restriction on creation of floating charges) shall not apply to a relevant building society in relation to any relevant floating charge.
(2) Section 9B(2) shall not apply to any relevant floating charge.
(3) In this article a “relevant floating charge” is a floating charge created by a relevant building society in favour of a qualifying institution in connection with any financial assistance the society receives from that qualifying institution.

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Source: https://www.legislation.gov.uk/ukdsi/2010/9780111494196/article/7 (the official version)
Page: https://openlegislation.uk/draft-building-societies-financial-assistance-order-2010/article-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.