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| | Introductory Text |
| | Part I Functions of the Financial Conduct Authority and the Prudential Regulation Authority (ss. 1-4) |
In force | 1. Functions of the Financial Conduct Authority and the Prudential Regulation Authority in relation to building societies. |
Deleted | 2. Financial provision for Commission. |
Deleted | 3. Accounts of Commission and audit. |
Deleted | 4. Annual and other reports. |
| | Part II Constitution of Building Societies (ss. 5-9B) |
| | Establishment (ss. 5-6) |
In force | ⚠ 5. Establishment, constitution and powers. |
In force | 6. The lending limit. |
| | Making Loans (ss. 6A-6C) |
In force | 6A. Loans secured on land. |
In force | 6B. Loans fully secured on land. |
In force | 6C. Discharge of mortgages. |
| | Raising funds and borrowing (ss. 7-9) |
In force | ⚠ 7. The funding limit. |
In force | 8. Proportion of liabilities to be in form of shares. |
Repealed | 9. Initial authorisation to raise funds and borrow money. |
| | Restrictions on powers (ss. 9A-9B) |
In force | 9A. Restrictions on certain transactions. |
Omitted | 9B. Restriction on creation of floating charges. |
| | Part III Advances, loans and other assets (ss. 10-23) |
| | Class 1 advances and class 2 advances secured on land (ss. 10-13) |
Repealed | 10. Advances secured on land. |
Repealed | 11. Class 1 and class 2 advances. |
Repealed | 12. Class 1 and class 2 advances: supplementary provisions. |
Repealed | 13. Security for advances: valuation and supplementary and related provisions. |
| | Other advances secured on land (ss. 14-14A) |
Repealed | 14. Power to make advances secured on land overseas. |
Repealed | 14A. Power to participate in secured syndicated lending. |
| | Other commercial assets (ss. 15-19) |
Repealed | 15. Loans for mobile homes. |
Repealed | 16. Power to lend to individuals otherwise than by class 1 or class 2 advances etc. |
Repealed | 17. Power to hold and develop land as commercial asset. |
Repealed | 18. Power to invest in subsidiaries and other associated bodies. |
Repealed | 19. Power for Treasury to add powers to hold other descriptions of class 3 assets. |
| | Commercial asset structure requirements (s. 20) |
Repealed | 20. Commercial asset structure requirements for building societies. |
| | Liquid assets (s. 21) |
Repealed | 21. Liquid assets. |
| | Liabilities of associated bodies (s. 22) |
Repealed | 22. Obligation to meet liabilities of associated bodies. |
| | Other powers (s. 23) |
Repealed | 23. Power to hedge. |
| | Part IV Protection of Investors (ss. 24-33) |
| | Investor Protection Scheme (ss. 24-30) |
Repealed | 24. The Building Societies Investor Protection Board. |
Repealed | 25. The Investor Protection Fund. |
Repealed | 25A. Meaning of insolvency etc. |
Repealed | 26. Power to levy contributions and to borrow money in event of insolvency. |
Repealed | 27. Payments to investors. |
Repealed | 27A. Membership of insolvency committees etc. |
Repealed | 28. Liability of insolvent society in respect of payments by Board. |
Repealed | 29. Repayments in respect of contributions. |
Repealed | 29A. Power to obtain information. |
Repealed | 30. Tax treatment of contributions and repayments. |
| | Other provisions (ss. 31-33) |
Repealed | 31. Voluntary schemes. |
In force | 32. Special provisions as regards investors. |
Repealed | 33. Assistance by building societies to other building societies. |
| | Part V Powers to Provide Services (ss. 34-35) |
Repealed | 34. Powers to provide financial services or services relating to land. |
Repealed | 35. Prohibition on linking services. |
| | Part VI Powers of Control of the Appropriate Authority (ss. 36-57) |
| | Powers in relation to asset or liability structure requirements (ss. 36-37) |
In force | 36. Powers in event of breach of limits on certain assets and liabilities. |
In force | 36A. Power to make prohibition orders. |
In force | 37. Powers to petition for winding up etc. |
| | Power to determine extent of building society powers (ss. 38-40) |
Repealed | 38. Power to determine building society's powers. |
Repealed | 39. The determination: notification, effect, appeal. |
Repealed | 40. Power to make prohibition orders. |
| | Powers in relation to authorisation (ss. 41-45) |
Repealed | 41. Power to direct application to renew authorisation. |
Repealed | 42. Imposition of conditions on current authorisation. |
Repealed | 42A. Imposition or variation of conditions in urgent cases. |
In force | 42B. Power to direct transfers of engagements or business. |
In force | 42C. Variation and revocation of transfer directions. |
Repealed | 43. Revocation of authorisation |
Repealed | 43A. Revocation: supplementary directions. |
Repealed | 43B. Notification and confirmation of supplementary directions. |
Repealed | 44. Reauthorisation. |
Repealed | 45. The criteria for prudent management. |
| | General functions of Commission (ss. 45AA-45A) |
Repealed | 45AA. Statements of principles etc. by Commission. |
Repealed | 45A. Exercise of powers on information from supervisory authority. |
| | Notices, hearings and appeals (ss. 46-49) |
In force | 46A. Notices, hearings and appeals. |
Deleted | 47. Determination of appeals. |
Deleted | 48. Costs, procedure and evidence. |
Deleted | 49. Further appeals on points of law. |
| | Advertising etc. (ss. 50-51) |
Repealed | 50. Powers to control advertising. |
Repealed | 51. Power to avoid apparent association with other bodies. |
| | Information (ss. 52-54) |
In force | 52. Powers to obtain information and documents etc. |
In force | 52B. Entry of premises under warrant under section 176 of the Financial Services and Markets Act 2000. |
In force | 53A. Disclosure of information. |
In force | 54. Information disclosed to FCA or PRA from other sources. |
| | Inspections, etc. (ss. 55-57) |
In force | 55. Investigations on behalf of FCA or PRA. |
In force | 56. Inspections and special meetings: general. |
In force | 57. Inspections: supplementary provisions. |
| | Part VII Management of Building Societies (ss. 58-70) |
| | Directors and other officers (ss. 58-61) |
In force | 58. Directors: number. |
In force | 59. Chief executive and secretary. |
In force | 60. Directors: elections and retirement. |
In force | 61. Directors: supplementary provisions as to elections, etc. |
| | Dealings with directors (ss. 62-68) |
In force | 62. Prohibition of tax-free payments to directors. |
In force | 63. Directors to disclose interests in contracts and other transactions. |
In force | 64. Substantial property transactions involving directors and connected persons. |
In force | 65. Restriction on loans, etc. to directors and persons connected with them. |
In force | 66. Sanctions for breach of s. 65. |
In force | 66A. Transactions with directors and persons connected with them. |
In force | 67. Directors, etc. not to accept commissions in connection with loans. |
In force | 68. Records of loans, etc. for directors falling within s. 65. |
| | Disclosure and record of related businesses (s. 69) |
In force | 69. Disclosure and record of income of related businesses. |
| | Interpretation (s. 70) |
In force | 70. Interpretation of this Part. |
| | Part VIII Accounts and Audit (ss. 71-82) |
| | Accounting records (s. 71) |
In force | 71. Accounting records. |
| | Accounts (ss. 72-76) |
Deleted | 72. Duty of directors to prepare annual accounts. |
In force | 72A. Duty to prepare individual accounts. |
In force | 72B. Building Societies Act individual accounts. |
In force | 72C. Form and contents of Building Societies Act individual accounts. |
In force | 72D. IAS individual accounts. |
In force | 72E. Duty to prepare group accounts. |
In force | 72F. Building Societies Act group accounts. |
In force | 72G. Form and contents of Building Societies Act group accounts. |
In force | 72H. IAS group accounts. |
In force | 72I. Consistency of accounts. |
In force | 72J. Disclosures relating to directors, other officers and employees of society required in notes to accounts. |
In force | 72K. Disclosures about related undertakings required in notes to accounts. |
In force | 72L.Disclosures relating to off-balance-sheet arrangements required in notes to accounts. |
In force | 72M. Disclosure of auditor remuneration required in notes to accounts. |
Deleted | 73. Contents and form of annual accounts. |
In force | 74. Duty of directors to prepare annual business statement. |
In force | 75. Directors' report. |
In force | 75A. Business review. |
In force | 76. Summary financial statement for members and depositors. |
| | Auditors and audit of accounts (ss. 77-79) |
In force | 77. Auditors: appointment, tenure, etc. |
In force | 78. Auditor's report. |
In force | 78A. Signature of auditors' report. |
In force | 78B. Senior statutory auditor. |
In force | 78C. Names to be stated in copies of auditor's report filed or published. |
In force | 78D. Circumstances in which names may be omitted. |
In force | 79. Auditor's duties and powers. |
| | Procedure on completion of accounts (ss. 80-82) |
In force | 80. Signing of balance sheet: documents to be annexed. |
In force | 81. Laying and furnishing accounts, etc. to members, the FCA and the PRA. |
In force | 81A. Requirements in connection with publication of accounts. |
In force | 81B. Interpretation of Part 8. |
Repealed | 82. Auditors' duties to Commission and related rights. |
| | Part IX Disputes (ss. 83-85) |
Repealed | 83. Recognised schemes for investigation of complaints. |
Repealed | 83A. Persons entitled to have complaints investigated. |
Repealed | 84. Investigation of complaints: supplementary provisions. |
In force | 85. Settlement of disputes. |
| | Part X Dissolution, Winding Up, Mergers and Transfer of Business (ss. 86-103) |
| | Dissolution and winding up (ss. 86-92) |
In force | 86. Modes of dissolution and winding up. |
In force | 87. Dissolution by consent. |
In force | 88. Voluntary winding up. |
In force | 89. Winding up by court: grounds and petitioners. |
In force | 89A. Building society insolvency as alternative order. |
In force | 90. Application of winding up legislation to building societies. |
In force | 90A. Application of other companies insolvency legislation to building societies. |
In force | 90B. Power to alter priorities on dissolution and winding up. |
In force | 90C. Application of bank insolvency and administration legislation to building societies. |
In force | 90D. Notice to the FCA and the PRA of preliminary steps. |
In force | 90E. Disqualification of directors. |
In force | 91. Power of court to declare dissolution of building society void. |
In force | 92. Supplementary. |
| | New business (s. 92A) |
In force | 92A. Acquisition or establishment of a business. |
| | Mergers (ss. 93-96) |
In force | 93. Amalgamations. |
In force | 94. Transfer of engagements. |
In force | 95. Mergers: provisions supplementing ss. 93 and 94. |
In force | 96. Mergers: compensation for loss of office and bonuses to members. |
| | Transfer of business to commercial company (ss. 97-102D) |
In force | 97. Transfer of business to commercial company. |
In force | 98. Transfers of business: supplementary provisions. |
In force | 99. Regulated terms: compensation for loss of office, etc. |
In force | 99A. Transfers of business: increased remuneration etc. |
In force | 100. Regulated terms: distributions and share rights. |
In force | 101. Protective provisions for specially formed successors. |
In force | 102. Transfer regulations. |
In force | 102A. Rights of second-named joint shareholders. |
In force | 102B. Protection of interests of beneficiaries in the case of trustee account holders. |
In force | 102C. Consequences of false declaration. |
In force | 102D. Provisions supplementary to sections 102B and 102C. |
| | Cancellation of registration (s. 103) |
In force | 103. Cancellation of registration. |
| | Part XI Miscellaneous and Supplementary and Conveyancing Services (ss. 104-126) |
| | Miscellaneous and supplementary (ss. 104-123) |
In force | 104. Power to amend, etc. to assimilate to company law. |
In force | 104A. Registration of charges: application of company law. |
Repealed | 105. Limited power to anticipate future statutory instrument powers. |
In force | 106. Public file of the society. |
In force | 107. Restriction of use of certain names and descriptions. |
Repealed | 108. Power to require building society to change misleading name. |
In force | 109. Exemption from stamp duty. |
In force | 109A. Exemptions from stamp duty land tax. |
In force | 110. Officers and auditors not to be exempted from liability. |
In force | 111. Time limit for commencing proceedings. |
In force | 112. Offences: liability of officers and defence of due diligence. |
In force | 113. Evidence. |
In force | 114. Records. |
In force | 115. Service of notices. |
In force | 115A. Deemed agreement to use of web site. |
In force | 115B. Right to hard copy version. |
In force | 115C. Other agreed forms of communication. |
In force | 116. Form of documents. |
In force | 117. Financial year of building societies. |
In force | 117A. Alteration of financial year. |
Repealed | 118. Qualifying asset holding for certain powers. |
Repealed | 118A. Associates. |
In force | 119. Interpretation |
In force | 119A. Meaning of "associated undertaking. |
In force | 120. Amendments, repeals, revocations and transitional and saving provisions. |
In force | 121. Power to make transitional and saving provisions. |
In force | 122. Northern Ireland. |
Repealed | 123. Expenses. |
| | Provision of conveyancing services by recognised institutions and practitioners (s. 124) |
Repealed | 124. Recognition of building societies, other institutions and individuals as suitable to provide conveyancing services. |
| | General (ss. 125-126) |
In force | 125. Short title. |
In force | 126. Commencement. |
Repealed | Schedule 1 The Building Societies Commission |
| | Schedule 2 Establishment, Incorporation and Constitution of Building Societies |
In force | Schedule 2, Part I General (paras. 1-15) |
In force | Schedule 2, Part II Capacity of Society and Power of Directors to Bind it (paras. 16-18) |
In force | Schedule 2, Part III Meetings, Resolutions and Postal Ballots (paras. 20-36) |
In force | Schedule 2A. Discharge of mortgages: supplementary provisions. |
| | Schedule 3 Authorisation: Supplementary Provisions |
Repealed | Schedule 3, Part I Preliminary (para. 1) |
Repealed | Schedule 3, Part II Authorisation (paras. 2-3) |
Repealed | Schedule 3, Part III Imposition of Conditions (paras. 4-5) |
Repealed | Schedule 3, Part IV Revocation of Authorisation (paras. 6-8) |
Repealed | Schedule 3, Part V Supplementary (paras. 9-10) |
Repealed | Schedule 4 Advances: Supplementary Provisions |
Repealed | Schedule 5 The Building Societies Investor Protection Board |
Repealed | Schedule 6 Insolvency Payments: Trusts and Joint or Client Account Holdings |
In force | Schedule 7 Investors: Special Provisions |
Repealed | Schedule 7A Directions: supplementary provisions. |
| | Schedule 8 Powers to Provide Services |
Repealed | Schedule 8, Part I The Services |
Repealed | Schedule 8, Part II General Restriction on Services Abroad |
Repealed | Schedule 8, Part III Restrictions in Relation to Certain Services |
Repealed | Schedule 8, Part IV Supplementary |
| | Schedule 8A Transfer Directions: Modifications of Part X |
In force | Schedule 8A, Part I Directions under section 42B(3) (paras. 1-5) |
In force | Schedule 8A, Part II Directions under section 42B(4) (paras. 6-11) |
In force | Schedule 9 Directors: Requisite Particulars of Restricted Transactions |
| | Schedule 10 Requisite Particulars of Income of Related Businesses |
In force | Schedule 10, Part I Requisite Particulars Where no Adoption of Part II (paras. 1-4) |
In force | Schedule 10, Part II Requisite Particulars on Adoption of This Part (paras. 5-8) |
In force | Schedule 10, Part III Supplementary (paras. 9-10) |
| | Schedule 10A Disclosures about directors, other officers and employees in notes to accounts |
In force | Schedule 10A, Part 1 Emoluments of and dealings with directors and other officers (paras. 1-12) |
In force | Schedule 10A, Part 2 Information about employees (para. 13) |
| | Schedule 10B Disclosures about related undertakings required in note to accounts |
In force | Schedule 10B, Part 1 Societies not required to prepare consolidated group accounts (paras. 1-8) |
In force | Schedule 10B, Part 2 Societies required to prepare consolidated group accounts (paras. 9-20) |
In force | Schedule 10C Disclosure of auditor remuneration etc required in notes to accounts |
In force | Schedule 11 Auditors: Appointment, Tenure |
| | Schedule 12 Schemes for Investigation of Complaints |
Repealed | Schedule 12, Part I Matters to be Provided for in Schemes |
Repealed | Schedule 12, Part II Requirements for Recognised Schemes : Matters of Complaint |
Repealed | Schedule 12, Part III Minimum Requirements for Recognised Schemes: Other Provisions |
Repealed | Schedule 13 Schemes for Investigation of Complaints : Recognition, Accession, etc. |
| | Schedule 14 Settlement of Disputes |
In force | Schedule 14, Part I Proceedings in Court (paras. 1-3) |
In force | Schedule 14, Part II Arbitration (paras. 4-8) |
| | Schedule 15 Application of Companies Winding Up Legislation to Building Societies |
In force | Schedule 15, Part I General Mode of Application (paras. 1-5) |
In force | Schedule 15, Part II Modified Application of Insolvency Act 1986 Parts IV, 6, 7, 12 and 13 and Schedule 10 (paras. 6-33B) |
In force | Schedule 15, Part III Modified Application of Insolvency (Northern Ireland) Order 1989 Parts V, 11 and 12 (paras. 34-55G) |
In force | Schedule 15, Part IV Dissolution of Building Society wound up (England and Wales, Scotland and Northern Ireland) (paras. 56-59) |
| | Schedule 15A Application of other companies insolvency legislation to building societies |
In force | Schedule 15A, Part I General mode of application (paras. 1-5A) |
In force | Schedule 15A, Part II Modified Application of Parts I to III, 6, 7, 12 and 13 of Insolvency Act 1986 (paras. 6-27I) |
In force | Schedule 15A, Part III Modified Application of Parts II, III, 4 and 12 of Insolvency (Northern Ireland) Order 1989 (paras. 28-55) |
| | Schedule 16 Mergers: Supplementary Provisions |
In force | Schedule 16, Part I Issue of Statements to Members (para. 1) |
In force | Schedule 16, Part II Notification of Proposals for Merger (paras. 2-6) |
In force | Schedule 16, Part III Confirmation by appropriate authority: Procedure (paras. 7-9) |
| | Schedule 17 Transfers of Business: Supplementary Provisions |
In force | Schedule 17, Part I Issue of Statement to Members (paras. 1-5) |
In force | Schedule 17, Part IA Notification of proposals for transfers of business (paras. 5A-5E) |
In force | Schedule 17, Part II Confirmation by appropriate authority: Procedure (paras. 6-8) |
| | Schedule 18 Amendments of Enactments |
In force | Schedule 18, Part I United Kingdom (paras. 1-19) |
In force | Schedule 18, Part II Northern Ireland (paras. 20-26) |
| | Schedule 19 Repeals and Revocations |
In force | Schedule 19, Part I Repeals: General |
In force | Schedule 19, Part II Revocation Extending to Great Britain |
In force | Schedule 19, Part III Repeals and Revocations Extending Only to Northern Ireland |
In force | Schedule 20 Transitional and Saving Provisions |
Repealed | Schedule 21 Provision of Conveyancing Services by Recognised Institutions and Practitioners |
