The Financial Services and Markets Act 2000 (Transitional Provisions) (Authorised Persons etc.) Order 2001

Conditions and directions imposed under the Building Societies Act

50.—(1) This article applies where immediately before commencement a building society was subject to—

(a) a condition imposed under section 9(5) of the Building Societies Act;

(b) a condition imposed under section 41 of that Act;

(c) a condition imposed under section 42 of that Act (including any which was imposed as a matter of urgency pursuant to section 42A of that Act(1) if it has been confirmed by a notice given under section 42A(8) of that Act);

(d) a condition imposed under section 44 of that Act;

(e) a direction given under section 50 of that Act.

(2) Where this article applies, the condition or direction has effect after commencement as if it were a requirement imposed on the building society under section 43.

(1)

Section 42A was inserted by the Building Societies Act 1997 s. 16.