The Building Societies (Member States) Order 1992

Interpretation

2.—(1) In this Order, except where the context otherwise requires—

“the Act” means the Building Societies Act 1986;

“relevant provision” means a provision of the Act which applies in relation to advances secured on land;

“society” means a building society;

“specified advance” means an advance which a society may make by virtue of this order;

“specified country” means a member State other than the United Kingdom, and

“specified countries” shall be construed accordingly; and

“specified security” means the form of security to which paragraph 1 of Schedule 1 to this Order refers.

(2) For the purposes of this Order, a provision of the Act which applies in relation to advances fully secured on land shall be treated as one which applies in relation to advances secured on land.