SCHEDULES
SCHEDULE 20 Transitional and Saving Provisions
Authorisation under existing enactments
6
1
A building society which, at the commencement date for section 9 is authorised to raise money and accept deposits under—
a
the M1Building Societies (Authorisation) Regulations 1981, or
b
the M2 Building Societies (Authorisation) Regulations (Northern Ireland) 1982,
shall be treated, whether or not the requirements of subsection (4) of section 9 would be fulfilled in its case, at the commencement of that section as authorised for the purposes of this Act (in particular Part VI).
2
The central office shall record in the public file of each building society to which sub-paragraph (1) above applies the fact that, by virtue of that sub-paragraph, the society is to be treated as authorised for the purposes of this Act.