Wednesday, 4 March 2015

UK: Building societies and floating charges

The Financial Services (Banking Reform) Act 2013 (Commencement (No. 8) and Consequential Provisions) Order 2015 was laid before Parliament yesterday and comes into force on 26th March 2015: see here or here (pdf). The purpose of the Order is to commence paragraph 4 of Schedule 9 of the Financial Services (Banking Reform) Act 2013 in order to allow building societies to create floating charges. Further information is available in the explanatory memorandum: see here (pdf).

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