The Financial Services (Banking Reform) Act 2013 (Commencement (No. 8) and Consequential Provisions) Order 2015 (the Order) has been laid before Parliament.

In addition to certain consequential amendments to existing primary and secondary legislation, the Order will bring into force paragraph 4 of Schedule 9 to the Financial Services (Banking Reform) Act 2013, giving building societies, which have been largely prevented under Section 9B of the Building Societies Act 1986 and Article 7 of the Building Societies (Financial Assistance) Order 2010, the ability to create floating charges.

The Order will come into force on 26 March 2015.

View The Financial Services (Banking Reform) Act 2013 (Commencement (No. 8) and Consequential Provisions) Order 2015, 3 March 2015