Regulation 5 Excluded investment

An investment held with a building society is an excluded investment if—

(a)

having regard to regulation 11(1) to (4) of the Building Societies Regulations^f1, it falls within any of the descriptions in regulation 4(1)(a), (b) and (c) of those Regulations, and

(b)

the building society is approved by the Board for the purposes of these Regulations under regulation 6.

Annotations

Footnotes

f1: Regulation 11 was amended by regulation 9 of S.I. 1992/11.