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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 27

Record of advances.

27.(1) Every building society shall cause records to be kept showing, with
respect to every advance made by the society on or after 1st October 1964, on
the security of freehold or leasehold estate,

(a)the value placed upon the estate in the report thereon under
section 25(1)(b) and the name of the person by whom the report was made; and

(b)particulars of any additional security taken by the society.

(2) If any building society fails to comply with subsection (1), the society,
and every officer of the society who is in default, shall be liable on summary
conviction to a fine not exceeding two hundred pounds.

© 1967 Crown Copyright

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