§ Lord Gallacherasked Her Majesty's Government:
Whether amendments are contemplated to the Building Societies Act 1962 which would permit societies operating a share capital which was wholly or mainly withdraw able on demand or at short notice to grant cash loans or overdraft facilities in addition to advances for house purchase or mortgage.
§ The Chancellor of the Duchy of Lancaster (Lord Cockfield)The Government are currently considering a number of ideas for amending the powers of building societies. We will be putting forward proposals for public consultation in due course.