§ Mr. Graham Pageasked the Chancellor of the Exchequer whether he is aware that the Chief Registrar of Friendly Societies has received representations about the figure of £5,000, above which building society advances to individuals are classed as special advances and subjected to certain annual limits; and if he will increase this figure.
Mr. MacmillanYes. The Chief Registrar of Friendly Societies proposes to make, with the consent of the Treasury, an Order increasing the prescribed figure from £5,000 to £7,000. A draft of that Order has today been laid before Parliament. If the Order is approved the higher figure will take effect for building societies in their next financial year.