9For subsection (1) of section 42 of the M1Local Government (Scotland) Act 1973 there shall be substituted—
“(1)In sections 39 and 41 of this Act “securities” means—
(a)investments falling within any of paragraphs 1 to 6 of Schedule 1 to the Financial Services Act 1986 or, so far as relevant to any of those paragraphs, paragraph 11 of that Schedule; or
(b)rights (whether actual or contingent) in respect of money lent to, or deposited with, any society registered under the Industrial and Provident Societies Act 1965 or any building society within the meaning of the Building Societies Act 1986.”
Marginal Citations