# The Industrial and Provident Societies (Increase in Deposit-taking Limits) Order 1981, Note: Explanatory note


This Order increases the amounts of deposits which may be taken by a society registered under the Industrial and Provident Societies Act 1965 without thereby carrying on the business of banking. The increases are from £10 to £400 in any one payment and from £250 to £400 for any one depositor. The Order further empowers the committee of a society, subject to certain conditions, to give effect to the increases by resolutions recorded in writing.

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Source: https://www.legislation.gov.uk/uksi/1981/394/note (the official version)
Page: https://openlegislation.uk/industrial-and-provident-societies-increase-in-deposit-taking-limits-order-1981/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.