Article 4
1. At the end of section 16(3) there shall be inserted the words: “and neither do bridging loans made under Part IV of Schedule 1 to the Building Societies (Commercial Assets and Services) Order 1988”.
2. At the end of section 16(5)(b) there shall be inserted the words: “and also the cost of leasable chattels bailed under any current leasing agreement between the society and that individual”.
3. At the end of section 16(6)(c) there shall be inserted the words: “and also the cost of leasable chattels bailed under any current leasing agreement between the society and that individual”.
4. In section 16(7) there shall be substituted for the word “is” the words: “and also the cost of leasable chattels bailed under any current leasing agreement between the society and any one of the joint borrowers are”.
5. For section 16(17) the following subsection shall be substituted:
“(17) In this section—
“facility limit” has the meaning which it bears in the Building Societies (Limited Credit Facilities) Order 1987; and
“leasable chattels”, “bailed” and “leasing agreement” have the meanings which they respectively bear in Part III of Schedule 1 to the Building Societies (Commercial Assets and Services) Order 1988 and “cost”, in respect of any leasable chattel bailed by a building society, means the price at which it was acquired by the society.”.