UKPGA-2024-18 — Building Societies Act 1986 (Amendment) Act 2024

preamble

Be it enacted by the King’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

s. 1 — The funding limit: funds to be disregarded

s. 1(1)

Section 7 of the Building Societies Act 1986 (the funding limit) is amended as follows.

s. 1(2)

In subsection (3) (disregarded funds), after paragraph (b) insert—

s. 1(3)

After subsection (9) insert—

s. 2 — Attendance at meetings by electronic means

After paragraph 34 of Schedule 2 to the Building Societies Act 1986 insert—

s. 3 — Power to assimilate with company law: common seals and execution of documents

s. 3(1)

Section 104 of the Building Societies Act 1986 (power to amend, etc. to assimilate company law) is amended as follows.

s. 3(2)

In subsection (2), before paragraph (a) insert— .

s. 3(3)

After subsection (3) insert—

s. 4 — Extent, commencement, transitional provision and short title

s. 4(1)

This Act extends to England and Wales, Scotland and Northern Ireland.

s. 4(2)

This Act comes into force at the end of the period of two months beginning with the day on which it is passed.

s. 4(3)

The amendments made by this Act to section 104 of the Building Societies Act 1986 apply in relation to any modification of the statutory provisions in force in Great Britain or Northern Ireland relating to companies whether the modification is made before or after the coming into force of this Act (and for this purpose “modification” and “statutory provision” have the same meanings as in that section).

s. 4(4)

This Act may be cited as the Building Societies Act 1986 (Amendment) Act 2024.