SCHEDULE 8 U.K.Amendments of the Building Societies Act 1986

14.—(1) Section 42C(1) (variation and revocation of transfer directions) is amended as follows. U.K.

(2) In subsection (1), for “Authority” substitute “appropriate authority”.

(3) After subsection (1), insert—

“(1A) If the appropriate authority is the PRA, it must consult the FCA before varying or revoking a direction.”.

Commencement Information

I1 Sch. 8 para. 14 in force at 1.4.2013, see art. 1(1)

(1)

Section 42C was inserted by the Building Societies Act 1997, section 18 and amended by S.I. 2001/2617.