http://www.legislation.gov.uk/ukpga/1997/32/schedule/8/paragraph/7
Building Societies Act 1997
An Act to amend the Building Societies Act 1986; to make provision for amalgamating the Building Societies Investor Protection Board and the Deposit Protection Board into a single board and the Building Societies Investor Protection Fund and the Deposit Protection Fund into a single fund; and for connected purposes.
1997-03-21
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Statute Law Database
2015-12-30
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2015-03-26
SCHEDULES
SCHEDULE 8 Transitional provisions and savings
Existing shareholders
I17
Unless the contrary is shown, a building society may assume that any shares in the society which are held by an individual at the commencement of section 8 of this Act are held otherwise than as a bare trustee (or, in Scotland, a simple trustee) for a body corporate, or for persons who include a body corporate.