Last edited by Mikakree
Sunday, July 26, 2020 | History

2 edition of Building Societies Act 1997 found in the catalog.

Building Societies Act 1997

Building Societies Association.

Building Societies Act 1997

a BSA summary.

by Building Societies Association.

  • 317 Want to read
  • 11 Currently reading

Published .
Written in English


ID Numbers
Open LibraryOL17280278M

History Early history. The National Freehold Land Society, officially named the National Permanent Mutual Benefit Building Society to give it legal existence under the Building Societies Act , was established by two Liberal members of parliament, Sir Joshua Walmsley and Richard Cobden, in , joined a year later by John , it formed the British Land Company, which separated. Ethics in Public Office Act, , No. 22 European Assembly (Irish Representatives) Act, , No. 19 European Parliament Elections Act, , No. 2 European Parliament Elections Acts, to Friendly Societies Acts, to Industrial and Provident Societies .

Building Societies Act a UK Act which consolidated earlier legislation in respect of the legal framework governing the activities of BUILDING SOCIETIES and, importantly, extended their powers to provide a range of financial services beyond that of providing principally MORTGAGE loans. In effect, the Act has opened the door to societies to engage in the provision of an extensive package of. The society continued to grow in size throughout the 20th century, remaining the UK's largest building society. The deregulation of the financial services industry in the s saw the passing of the Building Societies Act which allowed societies greater financial freedoms, and diversification into other markets. Accordingly, the Halifax acquired an estate agent to complement its mortgage.

This will amend section 74 of the Building Societies Act which requires a building society to prepare an annual business statement, and for officers (as well as directors) to make disclosures for the statement. The definition of ―officers‖ in the Building Societies Act includes any secretary or manager of the society.   Section Union or amalgamation of, transfer of engagement between, societies Source Taxes Consolidation Act section (1) In this section, “building society” means a building society within the meaning of the Building Societies Acts, to (2) Where in the course of or as part of a union or amalgamation of 2 .


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Building Societies Act 1997 by Building Societies Association. Download PDF EPUB FB2

An Act to amend the Building Societies Act ; to make provision for amalgamating the Building Societies Investor Protection Board and the Deposit Protection Board into a single board and the Building Societies Investor Protection Fund and the Deposit Protection Fund into a single fund; and for connected purposes.

9 Raising funds and borrowing. U.K. For section 8 of the Act there shall be substituted the following section— “ 8 Raising funds and borrowing. (1) Subject to subsection (2) below, a building society shall not do any of the following things, namely— (a) accept a deposit from an individual; (b) raise funds from an individual otherwise than by the issue of shares; and.

Building Societies Act c. 32 iii Schedule 5—Information about transfers or proposed transfers of business. Part I—Issue of statement or summary to members. Part II—Notification of proposals. “Discharge of mortgages: supplementary provisions U.K.

Main provisions U.K. 1 (1) When all money intended to be secured by a mortgage given to a building society has been fully paid or discharged, the society may endorse on or annex to the mortgage one or other of the following— (a) a receipt in the prescribed form signed by any person acting under the authority of the board of directors.

45 Minor and consequential amendments. U.K. (1) In section 10 of the M1Bankers’ Books Evidence Act (interpretation of “legal proceeding” etc.), in the definition of “ legal proceeding ” for the words from “an arbitration” to the end there shall be substituted the following paragraphs— “ (a) an arbitration; (b) an application to, or an inquiry or other proceeding before.

Building Societies Act Schedule 6 [Schedule 15A TO ACT] Application of Other companies Insolvency Legislation to Building Societies. Part I General Mode of Application. (1) Subject to the provisions of this Schedule, the enactments specified in sub-paragraph (2) below (referred to in this Schedule as "the enactments") apply in.

Building Societies Act CHAPTER Building Societies Act 1997 book Act to amend the Building Societies Act ; to make provision for amalgamating the Building Societies Investor Protection Board and the Deposit Protection Board into a single board and the Building Societies Investor Protection Fund and the Deposit Protection Fund into a single fund; and for connected purposes.

5 Loans secured on land. U.K. After section 6 of the Act there shall be inserted the following section— “ 6A Loans secured on land. (1) For the purposes of this Act a loan is secured on land if it is secured by— (a) a mortgage of a legal estate in land in England and Wales or Northern Ireland; (b) a heritable security over land in Scotland; or (c) a qualifying security over land in.

“Capacity of society and power of directors to bind it U.K. Capacity of society not limited by its memorandum U.K. 16 (1) The validity of an act done by a building society shall not be called into question on the ground of lack of capacity by reason of anything included in the society’s memorandum.

(2) A member of a building society may bring proceedings to restrain the doing of an act. A building society is a financial institution owned by its members as a mutual ng societies offer banking and related financial services, especially savings and mortgage ng societies exist in the United Kingdom, Australia and New Zealand, and used to exist in Ireland and several Commonwealth countries.

The Building Societies Act (c 32) The Building Societies (Joint Account Holders) Act (c 5) The Building Societies Act (c 53) The Building Societies Act (10 & 11 Eliz 2 c 37) The Building Societies Act (8 & 9 Eliz 2 c 64) The Building Societies Act. BUILDING SOCIETIES 7 THE BUILDING SOCIETIES ACT Cap.

Law Acts 22 of3rd. Sch., 32 of15 of1 of1st' Sch., 3 of3 of27 of42 of12 of29 of 1. This Act may be cited as the Building Societies Act. short title. The Court in this Act means the Supreme Court. Interpretation. Further changes to the Building Societies Act Changes to building societies' powers, introduced in the Deregulation and Contracting Out Act for building societies.

Government released results of second stage of reviewing process for building societies in and shortly after in and the Building Societies Bill was released. In March the Building Societies Actwhich made substantive amendments to, but did not replace, the Building Societies Actwas enacted.

The Act introduced a more flexible operating regime for societies. RECENT LEGISLATIVE CHANGES. Pending Amendments to Financial Legislation. This amendment to the Cooperative Societies Act will, among other things, bring credit union cooperative societies under the regulatory ambit of the Minister of Finance and the Public Service and the Bank of Jamaica.

“building society” means a building society within the meaning of the Building Societies Act,or a society established in accordance with the law of any other Member State of the European Communities which corresponds to that Act.

The Building Societies Act is an Act of Parliament of the United Kingdom governing building societies (mutually-owned mortgage-lending institutions).It removed certain restrictions on the range of services they could offer, so that they could compete with banks on a level basis: they could now make unsecured loans, offer cheque accounts, exchange currencies, provide stockbroking services.

Certain enactments not to apply to credit unions etc. —The following enactments, namely— (a) the Central Bank Acts, to ,(b) the Building Societies Act,and(c) the Consumer Credit Act, ,shall not apply to a credit union or to a body the members of which are credit unions and the principal objects of which are the promotion of the credit union movement and the.

Building Societies sourcebook BSOCS 1 Introduction Application and overview Supervisory standards for treasury activities Supervisory standards for managing risks in the lending book Supervisory discussions on change of "approach" Supervisory approaches to treasury management "Administered" approach "Matched" approach.

Building Societies Act,No. 17 Central Bank Act,No. 24 Central Bank Acts, to Companies Act,No. 33 Companies Act,No.

33 Companies Acts, to Consumer Credit Act,No. 24 Credit Union Act,No. 19 Friendly Societies Acts, to. 1. This Act may be cited as the Building Societies Act. 2. Interpretation. 2. The Court in this Act means the Supreme Court. 3. Incorporation of societies. 3. Any number of persons who desire to establish a building society, may, on having its rules.S.I.

No. of BUILDING CONTROL REGULATIONS, The Minister for the Environment and Local Government, in exercise of the powers conferred on him by sections 4, 6, 7 and 18 of the Building Control Act, (No.

3 of ), hereby makes the following Regulations:— PART I PRELIMINARY AND GENERAL. 1 Citation. 1.TAXES CONSOLIDATION ACT, ARRANGEMENT OF PARTS, CHAPTERS AND SCHEDULES. INTERPRETATION AND BASIC CHARGING PROVISIONS.

Building Societies: Change of Status. SCHEDULE Reorganisation into Companies of Trustee Savings Banks. The Great Book of Ireland Trust. Friendly societies.

Credit unions. Trade unions.