The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

Amendment of the Building Societies Act 1986

3.—(1) The Building Societies Act 1986(1) is amended as follows.

(2) In section 27(8)(a)(2), for “by Article 2 of Directive 89/229/EEC” there is substituted “in Section 1 of Chapter 2 of Title V of the Banking Consolidation Directive”.

(3) In section 43(1A)(f)(3), for “the Second Council Directive or” there is substituted “those provisions of the Banking Consolidation Directive which were previously comprised in Directive 89/646/EEC, or of”.

(4) In section 45A(1)(4), for “the Second Council Directive” there is substituted “those provisions of the Banking Consolidation Directive which were previously comprised in Directive 89/646/EEC”.

(5) In section 53, in subsections (4)(a)(5) and (6)(b)(6), for “article 12(7) of the First Council Directive” there is substituted “article 30(9) of the Banking Consolidation Directive”.

(6) In section 119:

(a) in subsection (2A)(7), the expressions:

(i) “the First Council Directive;”; and

(ii) “the Second Council Directive;”

are omitted;

(b) for subsection (2B)(8), there is substituted:

“(2B) In this Act “The Banking Consolidation Directive” means Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions.”; and

(c) in subsection (2C), for “those Regulations” there is substituted “the Financial Institutions (Prudential Supervision) Regulations 1996(9)”.

(1)

1986 c. 53.

(2)

Original text substituted by S.I. 1995/1442. regulation 40(7).

(3)

Inserted by S.I. 1992/3218, regulation 71(1).

(4)

Inserted by S.I. 1992/3218, regulation 74.

(5)

Original text substituted by S.I. 1992/3218, regulation 76(3).

(6)

Original text substituted by S.I. 1992/3218, regulation 76(5).

(7)

Inserted by S.I. 1992/3218, regulation 81. Amendments not relevant to this amendment inserted by S.I. 1995/1442, regulation 52(1).

(8)

Subsections (2B) and (2C) Inserted by S.I. 1996/1669, Schedule 5, paragraph 5.

(9)

S.I. 1996/1669.