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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 41

Liability for borrowing in excess of powers.

41.(1) In or upon every deposit book or acknowledgment or security of any kind
which after the commencement of this Act is given by a building society for a
deposit or loan the whole of the following provisions of this Act shall be set
out in writing, that is to say, sections 11(1) and (2) and 39(1)(2) and (3)
and this subsection.

(2) If a building society makes default in complying with subsection (1), the
person by whom the default is made shall, on complaint made by the registrar,
be liable on summary conviction to a fine not exceeding five pounds.

© 1967 Crown Copyright

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