The Building Societies (Business Names) Regulations 1998

Made: 23rd December 1998

Laid before Parliament: 24th December 1998

Coming into force: 1st March 1999

The Building Societies Commission, with the consent of the Treasury, in exercise of the powers conferred on it by paragraphs 10A(3) and 10C(6) of Schedule 2 to the Building Societies Act 1986¹, hereby makes the following Regulations:

Citation and commencement

1

These Regulations may be cited as the Building Societies (Business Names) Regulations 1998 and shall come into force on 1st March 1999.

Interpretation

2

• (1) In these Regulations “the Act” means the Building Societies Act 1986 and “the Schedule” means the Schedule to these Regulations.

• (2) Where a word or expression is specified in the Schedule, plural and possessive forms of that word or expression shall be taken to be similarly specified.

Words and expressions for which the Commission’s approval is required

3

The words and expressions stated in column (1) of the Schedule are hereby specified as words and expressions for the use of which as or as part of a building society’s business name the approval of the Commission is required by paragraph 10A(2) of Schedule 2 to the Act.

Words and expressions in which Government departments or other bodies may have an interest

4

Subject to regulation 5, each Government department or other body stated in column (2) of the Schedule is hereby specified as the relevant body for the purposes of paragraph 10A(4) of Schedule 2 to the Act in relation to the word or expression opposite to it in column (1) of the Schedule.

Scotland and Northern Ireland

5

Where an entry in column (2) of the Schedule names more than one Government department or other body–

• (a) in the case of a building society whose principal office is in Scotland, any department or body before whose name the words “(in Scotland)” appear shall be taken to be specified to the exclusion of any other department or body named in the entry;

• (b) in the case of a building society whose principal office is in Northern Ireland,

• (i) any department or body before whose name the words “(in Northern Ireland)” appear shall be taken to be specified to the exclusion of any other department or body named in the entry; and

• (ii) where there is no department or body before whose name the words “(in Northern Ireland)” appear, the department or body named in the entry other than one preceded by the words “(in Scotland)” in the entry shall be taken to be specified to the exclusion of such other department or body named in the entry; and

• (c) in the case of a building society whose principal office is in England or Wales, the department or body named in the entry other than one preceded by the words “(in Scotland)” or “(in Northern Ireland)” shall be taken to be specified to the exclusion of any such department or body named in the entry.

SCHEDULE — SPECIFICATION OF WORDS, EXPRESSIONS AND RELEVANT BODIES

Signed

In witness whereof the common seal of the Building Societies Commission is hereto fixed, and is authenticated by me, a person authorised under paragraph 14 of Schedule 1 to the Building Societies Act 1986, on

G.S. Johnson — Secretary to the Commission — 18th December 1998.

We consent to these Regulations.

Clive Betts — Jim Dowd — Two of the Lords Commissioners of Her Majesty’s Treasury — 23rd December 1998

Explanatory note

(This note is not part of the Regulations)

These Regulations specify certain words and expressions for the purposes of paragraph 10A of Schedule 2 to the Building Societies Act 1986 (which relates to the use of business names by building societies). Under the provisions of that paragraph the approval of the Building Societies Commission is required for the use of words and expressions so specified in a building society’s business name. The Regulations also specify government departments and other bodies who must be given an opportunity to comment in accordance with that paragraph before approval for the use of certain names can be given.

Footnotes