
1 
This Order may be cited as the Building Societies (Limits on Transactions with Directors) Order 1995 and shall come into force on 1st September 1995.
2 
Section 64 of the Building Societies Act 1986 (substantial property transactions involving directors and connected persons) is amended by the substitution in subsection (2)(a) for “£50,000” of “£100,000”.
3 
In section 65 of the Building Societies Act 1986 (Restrictions on loans, etc to directors and persons connected with them) the provisions specified in column 1 of the table set out in the Schedule hereto shall be varied by the substitution, for the respective amounts specified in column 2 of the table, of the respective amounts set out in column 3 thereof.
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
J. Dennis
Secretary to the Commission
13th July 1995.We consent to this Order.
D. Conway
A. Mackay
Two of the Lords Commissioners of Her Majesty’s Treasury
17th July 1995
SCHEDULE
Article 3


Provision Present amount Substituted amount
Section 65(2)(a) (small loans) £2,500 £5,000
Section 65(2)(c) (loans on preferential terms for house purchase) £50,000 £100,000
Section 65(3)(a) (small leases) £5,000 £10,000
Section 65(4)(a) (short loans) £1,000 £5,000
Section 65(6)(b) (director’s expenditure for society’s purposes) £10,000 £20,000