The Building Societies (Liquid Asset) (Amendment) Regulations 1991

• Citation: S.I. 1991/1785
• Sections: 4

Section 1 Citation and commencement

These Regulations may be cited as the Building Societies (Liquid Asset) (Amendment) Regulations 1991 and shall come into force on 2nd August 1991.

Section 2 Amendment of previous Regulations

There shall be added to Part I of the Schedule to the Building Societies (Liquid Asset) Regulations 1987 (“the 1987 Regulations ”):

(26) Deposits with any society, other than subordinated debt.

Section 3 Amendment of previous Regulations

Paragraph 7 of Part II of the Schedule to the 1987 Regulations (which restricts a liquid asset to an asset issued by a society with total assets in its latest balance sheet of not less than £1,000 million) shall cease to have effect.

Section 4 Amendment of previous Regulations

Paragraphs 1 and 2 of Part III of the Schedule to the 1987 Regulations (which provide that a liquid asset issued by a society which comes within paragraph 18 or 25 of Part I of the Schedule may be held only where the aggregate values of such assets so held did not exceed 2.5 per cent of the total assets of the holding society) shall cease to have effect.