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Building Societies Act 1986, SCHEDULE 18 is up to date with all changes known to be in force on or before 31 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
Section 120.
Marginal Citations
1U.K.In section 9(1) of the Bankers’ Books Evidence Act 1879 (meaning of “bank” and “banker” for purposes of that Act), after paragraph (a) there shall be inserted the following—
“(aa)a building society (within the meaning of the Building Societies Act 1986);”.
F12U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 18 para. 2 repealed (13.10.2003) by Land Registration Act 2002 (c. 9), s. 136(2), Sch. 13 (with s. 129, Sch. 12 para. 1); S.I. 2003/1725, art. 2(1)
F23U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F2Sch. 18 para. 3 repealed (22.7.2004) by Statute Law (Repeals) Act 2004 (c. 14), Sch. 1 Pt. 17 Group 2
4(1)This paragraph amends the M2Trustee Investments Act 1961 as follows.U.K.
(2)In Part II of Schedule 1 (narrower range investments requiring advice), for paragraph 12 there shall be substituted—
“12In deposits with a building society within the meaning of the Building Societies Act 1986.”.
(3)In Part III of Schedule 1 (wider range investments), for paragraph 2 there shall be substituted—
“2In shares in a building society within the meaning of the Building Societies Act 1986.”.
Marginal Citations
M29 & 10 Eliz. 2 c. 62.
5U.K.In section 1(4) of the M3Stock Transfer Act 1963 (simplified transfer of certain securities, not to apply to building society securities), for “1962” there shall be substituted “ 1986 ”.
Marginal Citations
F36U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F3Sch. 18 para. 6 repealed (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 7 (with Sch. 5)
F47U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F4Sch. 18 para. 7 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31
8(1)This paragraph amends the M4Banking and Financial Dealings Act 1971 as follows.U.K.
(2)In section 2(1) (power to suspend financial dealings on bank holidays) after paragraph (g) there shall be inserted—
“; and
(h)a direction that, subject as aforesaid, no building society shall, on that day, except with permission so granted, effect in the course of its business any transaction or, according as may be specified in the order, a transaction of such kind as may be so specified.”
(3)In section 2(6) after the definition of “authorised dealer in gold” there shall be inserted—
““building society” means a building society within the meaning of the Building Societies Act 1986.”.
Marginal Citations
9U.K.In Schedule 12A (access to information: exempt information) to the M5Local Government Act 1972—
(a)in Part II, in paragraph 2(d) for “1962” there shall be substituted “ 1986 ”; and
(b)in Part III, in paragraph 1(1), after the definition of "protected informant’ there shall be inserted the following definition—
““registered”, in relation to information required to be registered under the Building Societies Act 1986, means recorded in the public file of any building society (within the meaning of that Act);”.
Marginal Citations
10(1)This paragraph amends the M6Consumer Credit Act 1974 as follows.U.K.
(2)In section 16(1) (consumer credit agreement with certain bodies exempt from regulation) the words “or building society” shall be omitted and, after paragraph (f), there shall be inserted the words “, or
(g)a building society.”.
(3)In section 16(3) (Secretary of State’s duty to consult before making orders), after paragraph (d) there shall be inserted the words “or
(e)under subsection (1)(g) without consulting the Building Societies Commission and the Treasury.”.
(4)In section 189(1) (definitions), for the definition of “building society” there shall be substituted the following definition—
““building society” means a building society within the meaning of the Building Societies Act 1986;”.
Marginal Citations
11(1)This paragraph amends the M7Solicitors Act 1974 as follows.U.K.
F5(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F5(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)In section 85 (bank accounts)—
(a)after “account with a bank” there shall be inserted “ or a building society ”, and
(b)in paragraphs (a) and (b) after “bank” there shall be inserted “ or society ”.
(5)In section 87(1) (interpretation), after the definition of “bank” there shall be inserted—
““building society” means a building society within the meaning of the Building Societies Act 1986; and a reference to an account with a building society is a reference to a deposit account.”.
Textual Amendments
F5Sch. 18 para. 11(2)(3) repealed (1.1.2010) by Legal Services Act 2007 (c. 29), s. 211(2), Sch. 23 (with ss. 29, 192, 193); S.I. 2009/3250, art. 2(i)(v)
Marginal Citations
[F612U.K.In section 3(1) (building society law) of the M8Home Purchase Assistance and Housing Corporation Guarantee Act 1978, after “determining” there shall be added the word “ (a) ” and at the end of that subsection there shall be added the words—
“(b)the classification of the advance, or any such further advance, for the purposes of Part III of the Building Societies Act 1986.”.]
Textual Amendments
F6Sch. 18 para. 12 repealed (S.) by Housing (Scotland) Act 1987 (c. 26, SIF 61), s. 339, Sch. 24
Marginal Citations
F713U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F7Sch. 18 para. 13 repealed by Banking Act 1987 (c. 22, SIF 10), s. 108(2), Sch. 7 Pt. I
14U.K.In section 6(1) (interpretation) of the M9Charging Orders Act 1979, in the definition of “building society”, for “1962” there shall be substituted “ 1986 ”.
Marginal Citations
F815U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F8Sch. 18 para. 15 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31
F916U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F9Sch. 18 paras. 16, 17 repealed by Companies Act 1989 (c. 40, SIF 27), ss. 211(2)(b), 212, Sch. 24
F1017U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F10Sch. 18 paras. 16, 17 repealed by Companies Act 1989 (c. 40, SIF 27), ss. 211(2)(b), 212, Sch. 24
18(1)This paragraph amends the M10Housing Act 1985 as follows.U.K.
(2)In section 442(5) (consultations by Secretary of State regarding forms of local authority indemnity agreement) for “Chief Registrar of Friendly Societies" in paragraph (a), there shall be substituted “Building Societies Commission".
(3)In section 447 (recognised lending institutions) and in section 448 (recognised savings institutions) for “designated building societies" there shall be substituted “building societies".
F11[(4)For section 450 (modifications of building society law) there shall be substituted the following section—
So much of an advance by a building society which is partly financed under section 445 (assistance for first-time buyers) or the corresponding Scottish or Northern Ireland provisions as is so financed shall be treated as not forming part of the advance for the purpose of determining—
(a)whether the advance, or any further advance made within two years of the date of purchase, is beyond the powers of the society, and
(b)the classification of the advance, or any such further advance, for the purposes of Part III of the Building Societies Act 1986.”.]
(5)In section 622 (minor definitions) for the definition of “building society" there shall be substituted—
““building society” means a building society within the meaning of the Building Societies Act 1986”.
Textual Amendments
F11Sch. 18 para. 18(4) repealed (1.12.1997 in specified cases and for specified purposes and otherwise in accordance with art. 2(2)(3)(5) of S.I. 1997/2668) by 1997 c. 32, ss. 46(2), 47(3), Sch. 9; S.I. 1997/2668, art. 2, Sch. Pt. II(y)(cc)(xx)
Marginal Citations
19(1)This paragraph amends the M11Housing Associations Act 1985 as follows.U.K.
F12(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)In section 84(5) and 86(4) (consultation by Secretary of State regarding building society indemnities) for “Chief Registrar of Friendly Societies” there shall be substituted “ Building Societies Commission ”.
(4)In section 101 (minor definitions), for the definition of “building society” there shall be substituted—
““building society” means a building society within the meaning of the Building Societies Act 1986;”.
Textual Amendments
F12Sch. 18 para. 19(2) repealed (22.7.2004) by Statute Law (Repeals) Act 2004 (c. 14), Sch. 1 Pt. 17 Group 2
Marginal Citations
20U.K.In section 31(b) of the M12Industrial and Provident Societies Act (Northern Ireland) 1969 (authorised investments) for “society registered under the Building Societies Act” there shall be substituted “ building society within the meaning of the Building Societies Act 1986. ”.
Marginal Citations
Marginal Citations
F1321U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F13Sch. 18 para. 21 repealed by S.I. 1988/796, art. 27(2), Sch. 5 Pt. II
22U.K.In Article 33 (security not to be deemed prior mortgage under Building Societies Acts) of the M14Private Streets (Northern Ireland) Order 1980 for the words from “section 32” where they first occur onwards there shall be substituted “ section 11(2)(d) or (4)(d) of the Building Societies Act 1986 ”.
Marginal Citations
23(1)This paragraph amends the M15Housing (Northern Ireland) Order 1981 as follows.U.K.
(2)In Article 2(2) (interpretation) after the definition of “building regulations” there shall be inserted—
““building society” means a building society within the meaning of the Building Societies Act 1986”.
F14[(3)For Article 155 (building society law) there shall be substituted the following section—
So much of an advance by a building society which is partly financed under this Part or sections 445 to 449 of the Housing Act 1985 or the Home Purchase Assistance and Housing Corporation Guarantee Act 1978 as is so financed shall be treated as not forming part of the advance for the purpose of determining—
(a)whether the advance, or any further advance made within two years of the date of purchase, is beyond the powers of the society, and
(b)the classification of the advance, or any such further advance, for the purposes of Part III of the Building Societies Act 1986.”.]
(4)In Article 155A (exclusion of Restrictive Trade Practices Act 1976), after “Scottish Provisions” there shall be inserted “ (namely, sections 445 to 447 of the Housing Act 1985 or the Home Purchase Assistance and Housing Corporation Guarantee Act 1978) ”.
(5)In Article 156(5)(b) (consultations by the Department regarding forms of indemnity agreements) for “Registrar of Friendly Societies for Northern Ireland” there shall be substituted “ Building Societies Commission ”.
(6)For paragraph 1 of Schedule 10 there shall be substituted—
“1Building Societies.”.
Textual Amendments
F14Sch. 18 para. 23(3) repealed (1.12.1997 in specified cases and for specified purposes and otherwise in accordance with art. 2(2)(3)(5) of S.I. 1997/2668) by 1997 c. 32, ss. 46(2), 47(3), Sch. 9; S.I. 1997/2668, art. 2, Sch. Pt. II(y)(cc)(xx)
Marginal Citations
24U.K.In Article 3(10) of the M16Property (Discharge of Mortgage by Receipt) (Northern Ireland) Order 1983, after “applies” in the definition of “mortgage” there shall be inserted “ and, subject to paragraph 2(7) of Schedule 4 to the Building Societies Act 1986, does not include a mortgage to which that paragraph 2 applies. ”.
Marginal Citations
25U.K.In Article 3(4) of the M17Housing (Northern Ireland) Order 1983, in the definition of “building society” for the words from “1962” onwards there shall be substituted “ 1986 ”.
Marginal Citations
F1526U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F15Sch. 18 para. 26 repealed (N.I.) (1.10.1991) by S.I. 1989/2404 (N.I. 18), arts. 25(3), 37, Sch. 5 Pt. I; S.R. 1991/410, art. 1(2)
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