The Building Societies (Designation of Qualifying Bodies) (No.2) Order 1991

Designation of bodies corporate

3.—(1) Each appropriate vehicle of a description specified in the item in column 1 of Part I of the Schedule hereto is designated for the purposes of section 18 of the Act (power to invest in subsidiaries and other associated bodies) and within that Part of that Schedule—

(a) the corresponding item in column 2 specifics, where that appropriate vehicle comes within a description so specified, the meaning of that description for the purposes of this Order,

(b) the corresponding item in column 3 specifies that the appropriate vehicle is designated as suitable for investment and support or support,

(c) the corresponding item in column 4 specifies the purposes for which (in addition to the purposes permitted by section 18(4) of the Act) the exercise of the relevant power by a society is permitted in relation to that appropriate vehicle, and

(d) the corresponding item in column 5 specifies the condition subject to which the exercise of the relevant power by a society is permitted in relation to that appropriate vehicle.

(2) Part II of the Schedule to this Order shall have effect—

(a) so as to supplement Part I thereof, and

(b) in respect of the interpretation of that Schedule.