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Initial Authorisation To Raise Funds And Borrow Money

Volume 98: debated on Wednesday 4 June 1986

The text on this page has been created from Hansard archive content, it may contain typographical errors.

Amendments made: No. 30, in page 10. line 20, leave out 'or otherwise borrow'.

No. 31 in page 11, line 38, after first 'the', insert 'issue of shares'.

No. 32, in page 12, line 9, after second 'time' insert

'(and notwithstanding any pending appeal)'.

No. 33, in page 12, line 16. at end insert—

'(9A) On granting authorisation to a building society under this section the Commission shall inform the central office of the fact and the central office shall record that fact, and the date on which the authorisation was granted, in the public file of the society.'.

No. 34, in page 12, line 18, leave out 'or otherwise borrows'.

No. 35, in page 13, line 3, after third 'the', insert `qualifying'.

No. 36, in page 13, line 9, after second 'the', insert `qualifying'.

No. 37, in page 13, line 10, at end insert '; and

"qualifying deferred shares" means deferred shares other than deferred shares which, by virtue of regulations under section 43(5), are not included in capital resources aggregated with reserves for the purposes of the first criterion in subsection (3) of that section.'.