78. After subsection (10) of section 71 of the Building Societies Act(1) (accounting records and systems of business control etc.) there shall be inserted the following subsection—
“(10A) The Commission may, for the purpose of implementing the Council Directive on the supervision of credit institutions on a consolidated basis (No. 92/30/EEC)(2), direct that subsection (10) above shall have effect in relation to any building society specified in the direction as if any associated body of the society so specified were linked to it by resolution.”
1986 c. 53; section 71 was amended by S.I. 1991/1729.
OJ No. L110, 28.4.92, p.52.