Building Societies (Amendment) Act, 1986
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Amendment of section 2 of Principal Act. |
2.—Section 2 of the Principal Act is hereby amended by the substitution in subsection (1) for the definition of “society” of the following definition: | |
“‘society’ means a building society established under this Act for the purpose of raising, in accordance with this Act, funds (by the subscriptions of the members, the acceptance of deposits and loans) for making loans to members— | ||
(a) on security by the mortgage of freehold or leasehold estate or interest; or | ||
(b) with or without security and in accordance with any regulations made by the Minister under section 3 of the Building Societies (Amendment) Act, 1986;”. |