On 20 July 2018, there was published on the legislation.gov.uk website a draft version of the Building Societies Legislation (Amendment) (EU Exit) Regulations, together with a draft explanatory memorandum.

The instrument is being made using the power within section 8 of the European Union (Withdrawal) Act 2018, to address deficiencies of retained EU law to operate effectively following the  withdrawal of the United Kingdom from the European Union.

The amendments encompass both primary and secondary building society legislation and remove references to EEA countries, territories and bodies corporate incorporated under the law of an EU member State or EEA countries. References to EU legislation are replaced by references to the provisions of UK law which implemented them.