The Financial Services Act 2012 (Mutual Societies) Order 2013 No. 496

SCHEDULE 8 U.K. Amendments of the Building Societies Act 1986

52.—(1) Section 119(1) (interpretation) is amended as follows. U.K.

(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—

(a)

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

(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”.

Commencement Information

I1 Sch. 8 para. 52 in force at 1.4.2013, see art. 1(1)

(1)

Section 119(1) was amended by the Building Societies Act 1997, S.I. 1996/1669, S.I. 2001/2617, S.I. 2001/3649, S.I. 2003/404, S.I. 2004/3380, S.I. 2008/948, S.I. 2009/805, and S.I. 2009/1941. Subsection (1A) was inserted by S.I. 2001/2617.