131. Building societies, friendly societies etc.

131.     Building societies, friendly societies etc.

The power of building societies to make advances1, the nature of the security which may be accepted or required, the redemption, enforcement and discharge of building society mortgages2 and the powers of building societies to borrow money and give security3 are considered elsewhere in this work.

Friendly societies and industrial and provident societies may borrow or lend on mortgage if so authorised by their rules. These societies, too, are considered elsewhere4.