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Building Societies Act 1986 (Amendment) Act 2024

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Explanatory Notes

Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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These Explanatory Notes relate to the Building Societies Act 1986 (Amendment) Act 2024 which received Royal Assent on 24 May 2024 (c. 18).

These Explanatory Notes have been prepared by HM Treasury in order to assist the reader of the Act. They do not form part of the Act and have not been endorsed by Parliament.
These Explanatory Notes explain what each part of the Act means in practice; provide background information on the development of policy; and provide additional information on how the Act affects existing legislation in this area.
These Explanatory Notes might best be read alongside the Act. They are not, and are not intended to be, a comprehensive description of the Act.