The Building Societies Act 1986 (Amendment of Small Business Turnover Limit) Order 2024

• Citation: S.I. 2024/1024
• Sections: 2

Section 1 Citation, commencement and extent

(1) This Order may be cited as the Building Societies Act 1986 (Amendment of Small Business Turnover Limit) Order 2024.

(2) This Order comes into force on 4th November 2024.

(3) This Order extends to England and Wales, Scotland and Northern Ireland.

Section 2 Amendment of the small business turnover limit

(1) The Building Societies Act 1986 is amended as follows.

(2) In subsections (10) and (11)(c) of section 7 (the funding limit) for “£1,000,000” substitute “£6,500,000” .