
1 
These Rules may be cited as the Building Societies (Aggregation) (Amendment) Rules 1994 and shall come into force on 1st November 1994.
2 
The Building Societies (Aggregation) Rules 1993shall be amended as follows:
(a) in rule 2(1)(b) (definition of “attributable assets”) there shall be inserted at the end—“save that a loan shall be treated as falling within section 16 notwithstanding—
(i) that it is not made to an individual; or
(ii) that making it would cause any limit in that section to be exceeded;”;
(b) in rule 2(1)(e) (definition of excluded assets) in paragraph (ii) after the words “section 28(1)(b) of that Act” there shall be inserted the words “(or under any equivalent requirement imposed on the company by any law in force in the country or territory where it is incorporated)”; and
(c) in rule 7 (aggregation of assets)—
(i) in paragraph (2) for the words “paragraph (3)” there shall be substituted the words “paragraphs (3) and (3A)”; and
(ii) after paragraph (3) there shall be inserted the following paragraph—“
(3A) A loan falling to be attributed may be attributed as a class 3 asset of the society notwithstanding that it is not made to an individual or that if it were made by the society any limit in section 16 would be exceeded.”.
In witness whereof the common seal of the Building Societies Commission is hereunto fixed, and is authenticated by me, a person authorised under paragraph 14 of Schedule 1 to the Building Societies Act 1986, on
B. Dennis
Secretary to the Commission
8th September 1994.We consent to these Rules.
Derek Conway
Tim Wood
Two of the Lords Commissioners of Her Majesty’s Treasury
28th September 1994