(1) In section 7 of the Building Societies Act 1986 (c. 53) (funding limit)-

(a) after subsection (6) insert-

"(6A) The Treasury may, by order-

(a) provide for subsection (1) to have effect as if the reference to 50 per cent were a reference to such greater percentage (not exceeding 75) as they think appropriate;

(b) prohibit a society from applying the increased percentage unless a resolution of the society of such description as the Treasury think appropriate is passed in favour of applying the increased percentage.

(6B) An order under subsection (6A) is of no effect at any time unless, at the same time, there is also in force an order under section 90B (power to alter priorities on dissolution and winding up).

(6C) An order under subsection (6A)(a)-

(a) may not be amended so as to reduce the percentage specified in the order;

(b) may not be revoked, unless it is replaced by another such order specifying the same or a greater percentage.";

(b) in subsection (8), after "subsection" insert "(6A) or";

(c) after subsection (8) insert-