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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 7

Powers in relation to land.

7.(1) A building society shall, so far as is necessary for the purpose for
which it is established, have power to hold land with the right of foreclosure
or subject to the remedy of foreclosure and sale.

(2) A building society may purchase, build, hire or take on lease a building
for conducting its business and may adapt and furnish it.

(3) A building society may purchase or hold on lease any land for the purpose
only of erecting on it a building for conducting the business of the society.

(4) A building society may sell, exchange or let the whole or part of any such
building or land as is mentioned in subsection (2) or (3).

Members who are not shareholders.

© 1967 Crown Copyright

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