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Building Societies Act 1986

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Section 120.

SCHEDULE 18E+W+S+N.I. Amendments of Enactments

Part IE+W+S+N.I. United Kingdom

M1Bankers’ Books Evidence Act 1879 (c.11)E+W+S+N.I.

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Marginal Citations

1In section 9(1) of the Bankers’ Books Evidence Act 1879 (meaning of “bank” and “banker” for purposes of that Act), after paragraph (a) there shall be inserted the following—E+W+S+N.I.

(aa)a building society (within the meaning of the Building Societies Act 1986);.

Land Registration Act 1925 (c.21)E+W+S+N.I.

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Payment of Wages Act 1960 (c. 37)E+W+S+N.I.

F23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F2Sch. 18 para. 3 repealed (22.7.2004) by Statute Law (Repeals) Act 2004 (c. 14), Sch. 1 Pt. 17 Group 2

Trustee Investments Act 1961 (c. 62)E+W+S+N.I.

4(1)This paragraph amends the M2Trustee Investments Act 1961 as follows.E+W+S+N.I.

(2)In Part II of Schedule 1 (narrower range investments requiring advice), for paragraph 12 there shall be substituted—

12In deposits with a building society within the meaning of the Building Societies Act 1986..

(3)In Part III of Schedule 1 (wider range investments), for paragraph 2 there shall be substituted—

2In shares in a building society within the meaning of the Building Societies Act 1986..

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Marginal Citations

M29 & 10 Eliz. 2 c. 62.

Stock Transfer Act 1963 (c.18)E+W+S+N.I.

5In section 1(4) of the M3Stock Transfer Act 1963 (simplified transfer of certain securities, not to apply to building society securities), for “1962” there shall be substituted “ 1986 ”.E+W+S+N.I.

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Marginal Citations

Industrial and Provident Societies Act 1965 (c.12)E+W+S+N.I.

6In section 31(b) of the M4Industrial and Provident Societies Act 1965 (authorised investments), for “society registered under the Building Societies Acts” there shall be substituted “ building society within the meaning of the Building Societies Act 1986 ”.E+W+S+N.I.

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Marginal Citations

Income and Corporation Taxes Act 1970 (c.10)E+W+S+N.I.

F37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Banking and Financial Dealings Act 1971 (c.80)E+W+S+N.I.

8(1)This paragraph amends the M5Banking and Financial Dealings Act 1971 as follows.E+W+S+N.I.

(2)In section 2(1) (power to suspend financial dealings on bank holidays) after paragraph (g) there shall be inserted—

; and

(h)a direction that, subject as aforesaid, no building society shall, on that day, except with permission so granted, effect in the course of its business any transaction or, according as may be specified in the order, a transaction of such kind as may be so specified.

(3)In section 2(6) after the definition of “authorised dealer in gold” there shall be inserted—

building society” means a building society within the meaning of the Building Societies Act 1986..

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Marginal Citations

Local Government Act 1972 (c.70)E+W+S+N.I.

9In Schedule 12A (access to information: exempt information) to the M6Local Government Act 1972—E+W+S+N.I.

(a)in Part II, in paragraph 2(d) for “1962” there shall be substituted “ 1986 ”; and

(b)in Part III, in paragraph 1(1), after the definition of "protected informant’ there shall be inserted the following definition—

  • registered”, in relation to information required to be registered under the Building Societies Act 1986, means recorded in the public file of any building society (within the meaning of that Act);.

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Marginal Citations

Consumer Credit Act 1974 (c. 39)E+W+S+N.I.

10(1)This paragraph amends the M7Consumer Credit Act 1974 as follows.E+W+S+N.I.

(2)In section 16(1) (consumer credit agreement with certain bodies exempt from regulation) the words “or building society” shall be omitted and, after paragraph (f), there shall be inserted the words , or

(g)a building society..

(3)In section 16(3) (Secretary of State’s duty to consult before making orders), after paragraph (d) there shall be inserted the words or

(e)under subsection (1)(g) without consulting the Building Societies Commission and the Treasury..

(4)In section 189(1) (definitions), for the definition of “building society” there shall be substituted the following definition—

building society” means a building society within the meaning of the Building Societies Act 1986;.

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Marginal Citations

Solicitors Act 1974 (c.47)E+W+S+N.I.

11(1)This paragraph amends the M8Solicitors Act 1974 as follows.E+W+S+N.I.

F4(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)In section 85 (bank accounts)—

(a)after “account with a bank” there shall be inserted “ or a building society ”, and

(b)in paragraphs (a) and (b) after “bank” there shall be inserted “ or society ”.

(5)In section 87(1) (interpretation), after the definition of “bank” there shall be inserted—

building society” means a building society within the meaning of the Building Societies Act 1986; and a reference to an account with a building society is a reference to a deposit account..

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Amendments (Textual)

Marginal Citations

Home Purchase Assistance and Housing Corporation Guarantee Act 1978 (c.27)E+W+S+N.I.

[F512In section 3(1) (building society law) of the M9Home Purchase Assistance and Housing Corporation Guarantee Act 1978, after “determining” there shall be added the word “ (a) ” and at the end of that subsection there shall be added the words—E+W+S+N.I.

(b)the classification of the advance, or any such further advance, for the purposes of Part III of the Building Societies Act 1986..]

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Amendments (Textual)

Marginal Citations

Banking Act 1979 (c.37)E+W+S+N.I.

F613. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Charging Orders Act 1979 (c.53)E+W+S+N.I.

14In section 6(1) (interpretation) of the M10Charging Orders Act 1979, in the definition of “building society”, for “1962” there shall be substituted “ 1986 ”.E+W+S+N.I.

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Marginal Citations

Finance Act 1982 (c.39)E+W+S+N.I.

F715. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Companies Act 1985 (c.6)E+W+S+N.I.

F816. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F8Sch. 18 paras. 16, 17 repealed by Companies Act 1989 (c. 40, SIF 27), ss. 211(2)(b), 212, Sch. 24

Insolvency Act 1985 (c.65)E+W+S+N.I.

F917. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F9Sch. 18 paras. 16, 17 repealed by Companies Act 1989 (c. 40, SIF 27), ss. 211(2)(b), 212, Sch. 24

Housing Act 1985 (c. 68)E+W+S+N.I.

18(1)This paragraph amends the M11Housing Act 1985 as follows.E+W+S+N.I.

(2)In section 442(5) (consultations by Secretary of State regarding forms of local authority indemnity agreement) for “Chief Registrar of Friendly Societies" in paragraph (a), there shall be substituted “Building Societies Commission".

(3)In section 447 (recognised lending institutions) and in section 448 (recognised savings institutions) for “designated building societies" there shall be substituted “building societies".

F10[(4)For section 450 (modifications of building society law) there shall be substituted the following section—

450 Modifications of building society law.

So much of an advance by a building society which is partly financed under section 445 (assistance for first-time buyers) or the corresponding Scottish or Northern Ireland provisions as is so financed shall be treated as not forming part of the advance for the purpose of determining—

(a)whether the advance, or any further advance made within two years of the date of purchase, is beyond the powers of the society, and

(b)the classification of the advance, or any such further advance, for the purposes of Part III of the Building Societies Act 1986..]

(5)In section 622 (minor definitions) for the definition of “building society" there shall be substituted—

building society” means a building society within the meaning of the Building Societies Act 1986.

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Amendments (Textual)

F10Sch. 18 para. 18(4) repealed (1.12.1997 in specified cases and for specified purposes and otherwise in accordance with art. 2(2)(3)(5) of S.I. 1997/2668) by 1997 c. 32, ss. 46(2), 47(3), Sch. 9; S.I. 1997/2668, art. 2, Sch. Pt. II(y)(cc)(xx)

Marginal Citations

Housing Associations Act 1985 (c.69)E+W+S+N.I.

19(1)This paragraph amends the M12Housing Associations Act 1985 as follows.E+W+S+N.I.

F11(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)In section 84(5) and 86(4) (consultation by Secretary of State regarding building society indemnities) for “Chief Registrar of Friendly Societies” there shall be substituted “ Building Societies Commission ”.

(4)In section 101 (minor definitions), for the definition of “building society” there shall be substituted—

building society” means a building society within the meaning of the Building Societies Act 1986;.

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Amendments (Textual)

F11Sch. 18 para. 19(2) repealed (22.7.2004) by Statute Law (Repeals) Act 2004 (c. 14), Sch. 1 Pt. 17 Group 2

Marginal Citations

Part IIE+W+S+N.I. Northern Ireland

Industrial and Provident Societies Act (Northern Ireland)1969 (c.24 N.I.)E+W+S+N.I.

20In section 31(b) of the M13Industrial and Provident Societies Act (Northern Ireland) 1969 (authorised investments) for “society registered under the Building Societies Act” there shall be substituted “ building society within the meaning of the Building Societies Act 1986. ”.E+W+S+N.I.

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Marginal Citations

M14Payment of Wages Act (Northern Ireland 1970E+W+S+N.I.

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Marginal Citations

F1221. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F12Sch. 18 para. 21 repealed by S.I. 1988/796, art. 27(2), Sch. 5 Pt. II

Private Streets (Northern Ireland) Order 1980 (S.I. 1980/1086 (N.I.12))E+W+S+N.I.

22In Article 33 (security not to be deemed prior mortgage under Building Societies Acts) of the M15Private Streets (Northern Ireland) Order 1980 for the words from “section 32” where they first occur onwards there shall be substituted “ section 11(2)(d) or (4)(d) of the Building Societies Act 1986 ”.E+W+S+N.I.

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Marginal Citations

Housing (Northern Ireland) Order 1981 (S.I. 1981/156 (N.I.3))E+W+S+N.I.

23(1)This paragraph amends the M16Housing (Northern Ireland) Order 1981 as follows.E+W+S+N.I.

(2)In Article 2(2) (interpretation) after the definition of “building regulations” there shall be inserted—

building society” means a building society within the meaning of the Building Societies Act 1986.

F13[(3)For Article 155 (building society law) there shall be substituted the following section—

155 Modifications of building society law.

So much of an advance by a building society which is partly financed under this Part or sections 445 to 449 of the Housing Act 1985 or the Home Purchase Assistance and Housing Corporation Guarantee Act 1978 as is so financed shall be treated as not forming part of the advance for the purpose of determining—

(a)whether the advance, or any further advance made within two years of the date of purchase, is beyond the powers of the society, and

(b)the classification of the advance, or any such further advance, for the purposes of Part III of the Building Societies Act 1986..]

(4)In Article 155A (exclusion of Restrictive Trade Practices Act 1976), after “Scottish Provisions” there shall be inserted “ (namely, sections 445 to 447 of the Housing Act 1985 or the Home Purchase Assistance and Housing Corporation Guarantee Act 1978) ”.

(5)In Article 156(5)(b) (consultations by the Department regarding forms of indemnity agreements) for “Registrar of Friendly Societies for Northern Ireland” there shall be substituted “ Building Societies Commission ”.

(6)For paragraph 1 of Schedule 10 there shall be substituted—

1Building Societies..

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Amendments (Textual)

F13Sch. 18 para. 23(3) repealed (1.12.1997 in specified cases and for specified purposes and otherwise in accordance with art. 2(2)(3)(5) of S.I. 1997/2668) by 1997 c. 32, ss. 46(2), 47(3), Sch. 9; S.I. 1997/2668, art. 2, Sch. Pt. II(y)(cc)(xx)

Marginal Citations

Property (Discharge of Mortgage by Receipt) (Northern Ireland) Order 1983 (S.I. 1983/766 (N.I.9))E+W+S+N.I.

24In Article 3(10) of the M17Property (Discharge of Mortgage by Receipt) (Northern Ireland) Order 1983, after “applies” in the definition of “mortgage” there shall be inserted “ and, subject to paragraph 2(7) of Schedule 4 to the Building Societies Act 1986, does not include a mortgage to which that paragraph 2 applies. ”.E+W+S+N.I.

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Marginal Citations

Housing (Northern Ireland) Order 1983 (S.I. 1983/1118 (N.I.15))E+W+S+N.I.

25In Article 3(4) of the M18Housing (Northern Ireland) Order 1983, in the definition of “building society” for the words from “1962” onwards there shall be substituted “ 1986 ”.E+W+S+N.I.

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Marginal Citations

Companies (Northern Ireland) Order 1986E+W+S+N.I.

F1426. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F14Sch. 18 para. 26 repealed (N.I.) (1.10.1991) by S.I. 1989/2404 (N.I. 18), arts. 25(3), 37, Sch. 5 Pt. I; S.R. 1991/410, art. 1(2)

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