1. Functions of the Financial Conduct Authority and the Prudential Regulation Authority in relation to building societies.

Version status: In force | Document consolidation status: Updated to reflect all known changes

Version date: 26 March 2015 - onwards

(1) The FCA has the following functions under this Act in relation to building societies -

(a) [deleted]

(b) to administer the system of regulation of building societies provided for by or under this Act; and

(c) to advise and make recommendations to the Treasury and other government departments on any matter relating to building societies.

(1A) The PRA has the following functions under this Act in relation to building societies -

(a) to secure that the principal purpose of building societies remains that of making loans which are secured on residential property and are funded substantially by their members;

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