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The Building Societies (Isle of Man) Order 1987
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2.—(1) In this Order—
“the Act” means the Building Societies Act 1986;
“relevant form of security” means the form to which paragraph 1 of Schedule 1 to this Order refers;
“relevant provision” means a provision of the Act which applies or has effect in relation to advances secured on land;
“society” means a building society;
“specified territory” means the Isle of Man; and
“territory advance” means an advance which, by virtue of this Order, a society may make.
(2) For the purposes of this Order, a provision of the Act which applies or has effect in relation to advances fully secured on land shall be treated as one which applies or has effect in relation to advances secured on land.
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