The Financial Services Act 2012 (Mutual Societies) Order 2013 No. 496

SCHEDULE 8 Amendments of the Building Societies Act 1986

4.—(1) Section 5(1) (establishment, constitution and powers) is amended as follows.

(2) In subsection (2), for “Authority” substitute “FCA”.

(3) In subsection (4A), for “Authority” substitute “appropriate authority”.

(4) For subsection (13)(a), substitute—

“(a) section 1(1A)(a) (functions of the Prudential Regulation Authority in relation to building societies);”.

(1)

Section 5 was amended by the Building Societies Act 1997 (c.32), section 1, the Building Societies (Funding) and Mutual Societies (Transfers) Act 2007 (c.26), section 1 and S.I. 2001/2617.