The Building Societies (Prescribed Bands for Disclosure) Order 1987

• Citation: S.I. 1987/723
• Sections: 3

Section 1 Citation and commencement

This Order may be cited as the Building Societies (Prescribed Bands for Disclosure) Order 1987 and shall come into force on 2nd June 1987.

Section 2 Interpretation

In this Order, “the Schedule” means Schedule 10 to the Building Societies Act 1986 (which deals with particulars of business associates).

Section 3 Prescription of bands

(1) The prescribed band, in relation to any number of cases to which a single subparagraph of a paragraph of Part II of the Schedule applies, is the band of 100 cases, the higher end of which is 100 or a multiple of 100, within which the estimate of that number falls.

(2) The prescribed band, in relation to any monetary aggregate to which a single subparagraph of a paragraph of Part II of the Schedule applies, is–

(a) the band up to £1,000,

(b) the band above £1,000 but no greater than £5,000,

(c) the band above £5,000 but no greater than £10,000,

(d) the band above £10,000 but no greater than £25,000, or

(e) the band of £25,000 the higher end of which is a multiple of £25,000,

within which the estimate of that aggregate falls.