§ Mr. Brockwayasked the Secretary of State for the Colonies under whose authority the First Permanent Building Society is operating in Tanganyika, Northern Rhodesia, Nyasaland, Zanzibar and Uganda; and to what etxent the building undertaken by this Society is co-ordinated with the building plans of the Governments of the territories concerned.
§ Mr. Lennox-Boyd, pursuant to Mr. Profumo's reply [OFFICIAL REPORT, 22nd January, 1957; Vol. 563, c. 30–1], supplied the following information:
The First Permanent Building Society is incorporated in Northern Rhodesia and is operating in all the territories mentioned under the authority of local ordinances which follow generally the provisions of building societies legislation in the United Kingdom. Like those of any building society in this country, its activities are limited to raising money from investors and making advances to borrowers and it is only permitted to conduct direct building operations in respect of buildings necessary for its own operation.Building undertaken with loans provided by the society is not co-ordinated with Government building in any of the territories except in so far as it has to comply with requirements under town planning and other legislation.