F2PART I FUNCTIONS OF THE AUTHORITY
Annotations:
Amendments (Textual)
1F1 Functions of the Financial Services Authority in relation to building societies.
1
The Financial Services Authority (“the Authority”) has the following functions under this Act in relation to building socities—
a
to secure that the principal purpose of building societies remains that of making loans which are secured on residential property and are funded substantially by their members;
b
to administer the system of regulation of building societies provided for by or under this Act; and
c
to advise and make recommendations to the Treasury and other government departments on any matter relating to building societies.
2
The Authority also has, in relation to such societies, the other functions conferred on it by or under this Act or any other enactment.
Pt. I (s. 1) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) for Pt. I (ss. 1-4) by S.I. 2001/2617, arts. 2, 13(1), Sch. 3 Pt. II, para. 132 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(a)