SCHEDULES
SCHEDULE 2Establishment, Incorporation and Constitution of Building Societies
PART IGeneral
Membership
5
1
The rules of a building society may allow a person to become a member without holding a share in the society.
2
Such of the rules as concern the making of advances to members need not be expressed in terms which treat a member to whom an advance is made as being, by reason of the making of the advance, the holder of a share in the society.
3
A person who is a minor—
a
may, if the rules do not otherwise provide, be admitted as a member of a building society and give all necessary receipts ; but
b
may not vote or hold any office in the society ; and
c
may not nominate, or join in nominating, a person for election as a director of the society.