2.—(1) The Building Societies Act 1986 is amended as follows.
(2) In section 61 (directors: supplementary provisions as to elections, etc.)(1)—
(a)in paragraphs (b) and (c) of subsection (2), for “£100” substitute “£200”;
(b)in subsection (3)(a), for “£250” substitute “£500”.
(3) In section 64(2) (substantial property transactions involving directors and connected persons) (2)—
(a)in paragraph (a), for “£100,000” substitute “£200,000”;
(b)in paragraph (b)—
(i)for “£500,000” substitute “£1,000,000”;
(ii)for “£1,000” substitute “£2,000”.
(4) In section 65 (restrictions on loans, etc. to directors and persons connected with them)(3)—
(a)in subsection (2)(a), for “£5,000” substitute “£10,000”;
(b)in subsection (2)(c), for “£100,000” substitute “£200,000”;
(c)in subsection (3)(a), for “£10,000” substitute “£20,000”;
(d)in subsection (4)(a), for “£5,000” substitute “£10,000”;
(e)in subsection (6)(b), for “£20,000” substitute “£40,000”.
(5) In section 68 (records of loans, etc. for directors falling within section 65)—
(a)in subsection (7), for “£1,000” substitute “£2,000”;
(b)in subsection (8), for “£5,000” substitute “£10,000”.
(6) In section 69(12) (disclosure and record of income of related businesses), for “£5,000” substitute “£10,000”.
(7) In paragraph 20A(7) of Schedule 2 (establishment, incorporation and constitution of building societies), for “£25” substitute “£50”.
Section 61(2) was substituted by section 28(1) of the Building Societies Act 1997.
Section 64(2)(a) was amended by S.I. 1995/1872.
Section 65(2), (3), (4) and (6) were amended by S.I. 1995/1872.