The Building Societies Act 1997 (Commencement No. 3) Order 1997

PART I PROVISIONS COMING INTO FORCE ON 1ST DECEMBER 1997

Provision	Subject matter
(a) Section 7 and Schedule 2.	Discharge of mortgages.
(b) Section 12(1)(a), so far as it relates to section 13(7) of and Schedule 4 to the 1986 Act.	Superseded provisions of 1986 Act (supplementary provisions as to mortgages).
(c) Section 12(2) and (4).	Superseded provisions of 1986 Act (duties of mortgagee).
(d) Section 22.	Statements of principles etc. by Commission.
(e) Section 30 and Schedule 5.	Information about transfers or proposed transfers of business.
(f) Section 34.	Recognised schemes for investigation of complaints.
(g) Section 35.	Persons entitled to have complaints investigated.
(h) Section 36.	Registered and business names.
(i) Section 39 and Schedule 6.	Application of certain insolvency legislation.
(j) Section 43, so far as it relates to the provisions of Schedule 7 specified in this Part of this Schedule.	Amendments of the 1986 Act.
(k) Section 46, so far as it relates to the provisions of Schedule 8 and 9 specified in this Part of this Schedule.	Transitional provisions, savings and repeals, etc.
(l) In Schedule 7— (i) Paragraph 3(4).	Authorisation to raise funds and borrow money.
(ii) Paragraph 4.	The Building Societies Investor Protection Board.
(iii) Paragraph 7(2), (3) and (4).	Payments to investors.
(iv) Paragraph 10.	Power to obtain information.
(v) Paragraph 14, so far as not already in force.	Revocation of authorisation.
(vi) Paragraph 15(2).	Reauthorisation.
(vii) Paragraph 36.	Investigation of complaints: supplementary provisions.
(viii) Paragraph 41(a).	Amalgamations.
(ix) Paragraph 43.	Mergers: provisions supplementing sections 93 and 94.
(x) Paragraph 44.	Mergers: compensation for loss of office etc.
(xi) Paragraph 46.	Regulated terms: compensation for loss of office etc.
(xii) Paragraph 48.	Power to amend etc. to assimilate to company law.
(xiii) Paragraph 50.	Power to require building society to change misleading name.
(xiv) Paragraph 53, so far as not already in force, for the purpose of defining expressions used in provisions falling within this Part of this Schedule.	Interpretation.
(xv) Paragraph 61.	Auditors: appointment, tenure and qualifications.
(xvi) Paragraph 62.	Schemes for investigation of complaints.
(xvii) Paragraph 63.	Recognition etc. of schemes for investigation of complaints.
(xviii) Paragraph 64(5).	Settlement of disputes.
(xix) Paragraph 65.	Application of companies winding up legislation to building societies.
(xx) Paragraph 66(1)(b), (2), (3) and (4).	Mergers: supplementary provisions.
(xxi) Paragraph 67(b), so far as it relates to paragraphs 2 to 4 and 18 of Schedule 20 to the 1986 Act.	Transitional and saving provisions.
(m) In Schedule 8— (i) Paragraph 2.	Alteration of purpose, powers and rules.
(ii) Paragraph 3.	Default powers.
(n) In Schedule 9, the repeal and revocation of the following provisions— (i) Section 86 of the Solicitors Act 1974(1). (ii) Regulation 41(5) of the Credit Institutions (Protection of Depositors) Regulations 1995(2).
(o) In Schedule 9, the repeals of the following provisions of the 1986 Act— (i) In Part III, section 13(7) and Schedule 4. (ii) In section 28(2), the words “as in respect of a contractual debt incurred immediately before the institution began to be wound up”. (iii) In section 41, subsections (14) to (16). (iv) Section 84(1). (v) In section 95, subsections (7) to (9). (vi) Section 108. (vii) In section 119(3)(a), the words “by him” and “to him”. (viii) In Schedule 12, Part II. (ix) In Schedule 16, paragraph 1(5). (x) In Schedule 20, paragraphs 2 to 4 and 18.

(1)

1974 c. 47.

(2)

S.I. 1995/1442.