# The Building Societies Legislation (Amendment) (EU Exit) Regulations 2018, Regulation 3: Part 2: Constitution of building societies


(1) In section 6A (loans secured on land)—
(a) in subsection (1), in paragraph (c), for “an EEA country or territory other than the United Kingdom”, substitute “the Isle of Man, the Channel Islands or Gibraltar”;
(b) after subsection (1), insert—
“(1A) For the purposes of this Act a loan is also secured on land if—
(a) it was secured before exit day by a qualifying security over land in an EEA country or territory other than the United Kingdom, and
(b) it continues to be secured by a qualifying security over that land.”
(c) in subsection (4), for “European Economic Area” substitute “United Kingdom”;
(d) in subsection (7)—
(i) in the definition of “qualifying security”, for “in relation to land in an EEA country or territory other than the United Kingdom and a loan”, substitute “in relation to a loan and land in the Isle of Man, the Channel Islands, Gibraltar or in an EEA country or territory”;
(ii) omit the words from “and for the purposes of this section and that section” to the end of the subsection;
(e) in subsection (8), for paragraph (a), substitute—
“(a) land in—
(i) the United Kingdom;
(ii) the Isle of Man, the Channel Islands, Gibraltar; or
(iii) an EEA country or territory; and”.
(2) In section 6B (loans fully secured on land), in subsection (9)—
(a) after “Scotland” insert “, the Isle of Man, the Channel Islands, Gibraltar”;
(b) for “an EEA country” substitute “another country”.

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111171554/regulation/3 (the official version)
Page: https://openlegislation.uk/draft-building-societies-legislation-amendment-eu-exit-regulations-2018/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.