Building Societies (Amendment) Act 2006

Amendment of section 23 of Principal Act.

10.— Section 23 of the Principal Act is amended by substituting the following for subsection (2):

“(2) The power to make loans under subsection (1) is subject to any requirements or restrictions that the Central Bank may place on a society, including prohibition of a specified activity, in the interests of the orderly and proper regulation of building societies.”.