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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 60

1979 c.37

60.(1) Section 59(1) shall not apply to surplus funds of a building society
represented by any investment made before 1st October 1964, under the
enactments specified in subsection (2), so long as the society

(a)continues to hold that investment, and

(b)does not enter into any transaction the effect of which is to alter the
terms on which the investment is held.

(2) The said enactments are

(a)section 25 of the Building Societies Act 1874 (which prescribed the manner
in which building societies might invest surplus funds);

(b)section 16 of the Building Societies Act 1894 (which authorised building
societies, within certain limits, to deposit money in, or invest in government
stock through, a savings bank).

© 1967 Crown Copyright

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