On 14 October 2024, there was published on the legislation.gov.uk website:
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The Building Societies Act 1986 (Amendment of Small Business Turnover Limit) Order 2024. This Order amends section 7(10) and (11) of the Building Societies Act 1986 (the 1986 Act) by increasing the turnover limit in a relevant financial year for the definition of a small business in section 7(10) of the 1986 Act from £1 million to £6.5 million. It also makes a corresponding amendment to the reference to the equivalent limit in any other currency in subsection (11)(c). The Order comes into force on 4 November 2024.
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Draft – The Building Societies Act 1986 (Modifications) Order 2024. This draft Order amends sections 60 and 61 of the 1986 Act to remove all references to the normal retirement age or the compulsory retirement age for directors, as stated in the 1986 Act. This will update the 1986 Act in line with the Companies Act 2006 (2006 Act), where there are no longer corresponding restrictions for compan