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52.—(1) Section 80 (security for loans to unregistered self-build societies) is amended as follows.
(2) In subsection (1)—
(a)for “Relevant Authority” substitute “Welsh Ministers”,
(b)in paragraph (a) for “makes” substitute “make”,
(c)in paragraph (b)—
(i)omit “or heritable security”, and
(ii)for “has” substitute “have”, and
(d)for “it may” substitute “they may”.
(3) In subsection (2) for “Relevant Authority continues” substitute “Welsh Ministers continue”.
(4) Omit subsection (3A).
(5) In subsection (4) for the words from the beginning to “unless he is satisfied” substitute “The Welsh Ministers shall not give directions under this section requiring a society to transfer its interest in land to them or any other person unless they are satisfied”.
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