HC Deb 28 July 1879 vol 248 cc1406-7

asked Mr. Attorney General, Whether the statement is correct that Building Societies established under the 6th and 7th Will. 4, c. 32, and not since incorporated under "The Building Societies Act, 1874," have the powers of borrowing money set forth in the Act of 1874?


The 15th section of the Building Societies Act, 1874, does not confer such borrowing powers on those Societies, unless they have been incorporated under the Act of 1874. In an answer I recently gave to a similar Question, I ought to have pointed out more distinctly than I did that the Building Societies to which the 15th section of the Act of 1874 applies are Societies which have obtained certificates of incorporation under that Act, as provided by Section 2 of the Building Societies Act Amendment Act, 1875.