The Building Societies (Investigation of Complaints) Order 1990

• Citation: S.I. 1990/2203
• Sections: 5

Section 1 Citation and Commencement

This Order may be cited as the Building Societies (Investigation of Complaints) Order 1990 and shall come into force on 1st January 1991.

Section 2 Interpretation

In this Order, except where the context otherwise requires

“ the Act ” means the Building Societies Act 1986;

“Part II” means Part II of Schedule 12 to the Act;

“Scheme” means a scheme for the purposes of section 83 of the Act (Schemes for investigation of complaints).

Section 3 Amendment of requirement for recognised schemes

The Schedule to this Order shall have effect for the purpose of varying the provisions of Part II (Requirements for Recognised Schemes: Matters of Complaint).

Section 1

After paragraph 3 of Part II there shall be inserted the following paragraph:

Borrowers: Loans by appropriate mortgage companies

(3A) The operation or termination of the account of a borrower on the security of land from an appropriate mortgage company and the grant or refusal to grant a borrower from such a company further advances secured on the same or different land or other facilities normally available to borrowers of his description.

Note:

The operation or termination of the account of a borrower from an appropriate mortgage company includes any aspect of the relationship or the termination of the relationship between the lender and such a borrower including in particular the exercise of any power over the security.

Note:

“Appropriate mortgage company” means a company of that description which is for the time being the object of investment and support by a building society in accordance with the Building Societies (Designation of Qualifying Bodies) Order 1990 .

Note:

the grant of advances includes the terms on which they are granted.

Section 2

For paragraphs 6 to 9 of Part II there shall be substituted the following paragraphs

Banking Services

(6) The terms on which are provided, the operation of, or the withdrawal of banking services.

Note:

“Banking Services” means the services of that description provided in accordance with Schedule 8 to this Act.

Trusteeship

(7) The terms on which are provided, the operation or termination of services of Trusteeship.

Note:

“Trusteeship” means the services of that description provided in accordance with Schedule 8 to this Act.

Executorship

(8) The terms on which are provided or the operation of services of Executorship.

Note:

“Services of Executorship” means services of that description provided in accordance with Schedule 8 to this Act.