- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
6. Where a society, in exercise of its powers arising as a result of having taken the relevant form of security over land on which a territory advance is made, takes possession of the land, the land shall until sale be treated —
(a)if the advance was most recently treated as a class 1 advance by virtue of this Order, as a class 1 asset, and
(b)if the advance was most recently treated as a class 2 advance by virtue of this Order, as a class 2 asset,
for the purposes of the requirements of Part III of the Act for the structure of commercial assets.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include: