The Building Societies Legislation (Amendment) (EU Exit) Regulations 2018
Thursday, 15 November 2018 18:17
The Building Societies Legislation (Amendment) (EU Exit)
Regulations 2018 These Regulations are made in exercise of the
powers in section 8 of the European Union (Withdrawal) Act 2018 in
order to address failures of retained EU law to operate effectively
and other deficiencies (in particular the deficiencies under
paragraphs (e) and (g) of section 8(2) of the Act) arising from the
withdrawal of the United Kingdom from the European Union and to
make consequential provision. Regulations 2 to 7...Request free trial
The Building
Societies Legislation (Amendment) (EU Exit) Regulations
2018
These Regulations are made in exercise of the powers in section 8
of the European Union (Withdrawal) Act 2018 in order to address
failures of retained EU law to operate effectively and other
deficiencies (in particular the deficiencies under paragraphs (e)
and (g) of section 8(2) of the Act) arising from the withdrawal of
the United Kingdom from the European Union and to make
consequential provision. Regulations 2 to 7 amend the Building
Societies Act 1986 (to remove references to EEA countries and
territories, and bodies corporate incorporated under the law of an
EU member State or EEA countries and to replace references to EU
legislation by references to the provisions of UK law which
implemented them).
Regulation 8 amends the Building Societies (Funding) and Mutual
Societies (Transfers) Act 2007 to replace references to EEA mutual
societies by references to Crown Dependency mutual societies.
Regulations 9 to 12 make similar amendments to the Building
Societies (Transfer of Business) Regulations 1998, the Building
Societies (Accounts and Related Provisions) Regulations 1998, the
Building Societies Act 1986 (Substitution of Specified Amounts and
Modification of the Funding Limit Calculation) Order 2007 and the
Mutual Societies (Transfers) Order 2009.
These Regulations refer to the Rulebook made by the Prudential
Regulation Authority under the Financial Services and Markets Act
2000, and sourcebooks made by the Financial Conduct Authority under
that Act.
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