This is the original version (as it was originally enacted).
(1)There shall be a body corporate to be known as the Building Societies Investor Protection Board (in this Part referred to as " the Board ") which—
(a)shall hold, manage and apply in accordance with the protective scheme provisions of this Part a fund to be known as the Building Societies Investor Protection Fund (referred to in those provisions as " the Fund "); and
(b)shall, if it so determines under section 26 in relation to a building society which has become insolvent, levy contributions to the Fund from authorised building societies in accordance with that section; and
(c)shall have such other functions as are conferred on the Board by the protective scheme provisions of this Part.
(2)Schedule 5 to this Act shall have effect with respect to the constitution of the Board and the procedural and other matters there mentioned.
(3)In this Act " the protective scheme provisions" means sections 25 to 29.
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