30 Authorisation

30 Authorisation

A building society may not raise money from members, or accept deposits of money, unless it is authorised to do so by the Financial Services Authority (FSA)1. Raising money from members and accepting deposits are regulated activities2. In order to carry on regulated activities in the United Kingdom, a building society must obtain permission from the FSA under Part IV of the Financial Services and Markets Act 2000. This is known as ‘a Part IV permission’3. A building society becomes an authorised person once it has been given Part IV permission to carry on one or more regulated

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