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Amendment of section 29 of Principal Act.
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13.— Section 29 of the Principal Act is amended—
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(a) in subsection (2) by inserting the following after paragraph (q):
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“(r) any activities referred to in Annex I to the Codified Banking Directive relating to the taking up and pursuit of the business of credit institutions, insofar as those activities are not provided for under this Act, other than by virtue of this subparagraph, and
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(s) the provision of financial, administrative, operational, company secretarial or money management services,”,
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and
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(b) by inserting the following after subsection (6):
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“(7) Subject to section 36 and subsections (3) and (4), a society may on its own account engage in any of the activities specified in paragraphs (c) and (g) of subsection (2) and for the purposes of this subsection the reference in paragraph (c) to the sale and purchase of financial obligations, debts and securities shall be construed as including a reference to the sale of mortgages or loans.”.
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