SCHEDULE 3ENACTMENTS AMENDED

PART IIBUILDING SOCIETIES

Amendments to the Building Societies Act 1986

157

In section 60115—

a

in subsection (4), after the word “subsections” there is inserted “(4A),”,

b

after subsection (4) there is inserted—

4A

A person in relation to whom there is in force a prohibition order made under section 56(2) of the Financial Services and Markets Act 2000 shall not be eligible to be elected as a director of a building society.

c

for the word “Commission” in subsections (9) and (16) there is substituted “Treasury”, and

d

for the words “it considers” in subsection (16) there is substituted “they consider”.