3 Increase in deposit-taking limits
In section 7(3) of the Act for the words “ten pounds” (denoting the limit of deposits which can be taken at any one time) there shall be substituted the words “four hundred pounds” and for the words “two hundred and fifty pounds” (denoting the maximum amount which can be taken from any one depositor) there shall be substituted the words “four hundred pounds”.
Section 7(3) was amended by section 1 of the Industrial and Provident Societies Act 1978 (c. 34).