Article 197 Financial institution becoming subsidiary of building societyI1
United Kingdom
(1)
Section 101 of the Building Societies Act 1986f1 (protective provisions for specially formed successors) is amended as follows.
(2)
In subsection (4)(a)—
(a)
for the words “financial institution” substitute “person who is an authorised person within the meaning of section 31 of the Financial Services and Markets Act 2000”;
(b)
for the words “an institution” substitute “a person”.
(3)
In subsection (6), the definition of “financial institution” is repealed.
Annotations
Commencement
- I1
Art. 197 in force at 1.12.2001, see art. 1
Footnotes
- f1
-
Section 101 was substituted by the Building Societies Act 1997 (c. 32) section 41.