§ Mr. EvennettTo ask the Chancellor of the Exchequer what information he has regarding the interpretation placed upon section 100 of the Building Societies Act 1986 by the Building Societies Commission; and if he will make a statement.
§ Mr. RyderI have nothing to add to the guidance issued by the Building Societies Commission on 20 October, copies of which have been placed in the Libraries of both Houses of Parliament. This sets out the Building Societies Commission's interpretation of section 100. Nothing in the guidance calls into question the validity of schemes along the lines of that adopted by Abbey National.
§ Mr. EvennettTo ask the Chancellor of the Exchequer if he has any plans to introduce legislation to amend section 100 of the Building Societies Act 1986; and if he will make a statement.