Commentary

1.4 The continuing 1986 Act

BUILDING SOCIETIES vol 6(1)
| Commentary

1.4 The continuing 1986 Act

| Commentary

1.4 The continuing 1986 Act

Nearly all those sections of the Building Societies Act 1986 which related to prudential supervision have been repealed by or under the Financial Services and Markets Act 20001. All references in the 1986 Act to the Building Societies Commission have been removed2 and any remaining powers of control have been passed from the Building Societies Commission to the Financial Services Authority3. The Building Societies Commission’s powers to make secondary legislation under the remainder of the 1986 Act have been passed to the Treasury4.

Nevertheless, a substantial part of

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