(1)    This Order may be cited as the Building Societies Act 1997 (Expiry of Transitional Period) Order 1998.

(2)    In this Order “the transitional period” means the period defined in paragraphs 2(7) and 3(6) of Schedule 8 to the Building Societies Act 1997 as beginning with the commencement of sections 1 and 2 of the Building Societies Act 1997 on 1st December 1997 and expiring with such day as the Commission, with the consent of the Treasury, prescribes by order made by statutory instrument.

The transitional period shall expire on 30th April 1999.

Secretary to the Commission

G S Johnson

We consent to this Order

Two of the Lords Commissioners of Her Majesty's Treasury

David Jamieson

Clive Betts

18th November 1998

This Order ends the transitional period provided for in Schedule 8 to the Building Societies Act 1997 for the alteration of building societies' purposes, powers and rules to secure conformity with the Building Societies Act 1986 as amended by sections 1 and 2 of the Building Societies Act 1997.