SCHEDULE 8Amendments of the Building Societies Act 1986

I152

1

Section 119184 (interpretation) is amended as follows.

2

In subsection (1)—

a

omit the definition of “the Authority”;

b

in the definition of “officially notified”, for “Authority” substitute “FCA”;

c

in the definition of “the public file”, for “Authority” substitute “FCA”; and

d

at the appropriate places, insert—

  • “the appropriate authority” means—

    1. a

      in relation to a building society which is a PRA-authorised person, the PRA; and

    2. b

      in relation to a building society which is not a PRA-authorised person, the FCA;

  • “the FCA” means the Financial Conduct Authority;

  • “the PRA” means the Prudential Regulation Authority;

  • “PRA-authorised person” has the meaning in section 2B of the Financial Services and Markets Act 2000;

3

In subsection (1A)—

a

for “Authority” substitute “FCA”; and

b

for “Authority’s” substitute “FCA’s”.

4

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