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Building Societies Act 1997

Building Societies Act 1997 Sch 7 para 25

Sch 7 para 25

(1) In subsection (1) of section 67 of the 1986 Act (directors etc. not to accept commissions in connection with loans), for the word “advances” there shall be substituted the word “ loans ” . (2) In subsection (5) of that section, for the words “an additional advance”, “an advance” and “the advance” there shall be substituted the words “ an additional loan ” , “ a loan ” and “ the loan ” respectively. (3) In subsection (7) of that section, for the words “an advance” there shall be substituted the words “ a loan ” .

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