SCHEDULE 1AMENDMENT OF SECTION 15 OF THE ACT
1
At the end of section 15(5)(b) there shall be inserted the words: “and any facility limits agreed for the time being between the society and that individual”.
2
At the end of section 15(6) there shall be inserted the words: “, and so is any facility limit which is agreed for the time being between the society and any one of the joint borrowers”.
3
In section 15(12), before the definition of “mobile home”, the following definition shall be inserted:
“facility limit” has the meaning which it has for the purposes of the Building Societies (Limited Credit Facilities) Order 1987;