# The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001, Article 53: Meaning of “financial trading stock” in relation to a building society

Extent: E+W+S+N.I.

In paragraph 2(3) of Schedule 12 to the Finance Act 1988 (meaning of “financial trading stock” in relation to a building society) for the words from “such of the assets” to the end substitute
“those assets held by the society that—
(a) are of such proportion and composition as will enable it at all times to meet its liabilities as they arise, and
(b) constitute trading stock for the purposes of section 100 of the Taxes Act 1988.”.

---
Source: https://www.legislation.gov.uk/uksi/2001/3629/article/53 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-taxes-order-2001/article-53
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.