✓ Passed into LawLords
UK Parliament · Bill
Building Societies Act 1986 (Amendment) Act 2024
Summary
This Act makes changes to the Building Societies Act 1986 (the main law controlling how building societies work). The specific amendments aren't detailed here, but generally it updates or adjusts the rules that building societies must follow when operating in the UK.
A vote to support means
- —Supporting this Act means allowing building societies (financial organizations that help people save and get mortgages) to operate more flexibly and modernly. It could make these organizations more competitive with banks and help them offer better services to their members.
A vote to oppose means
- —Critics might worry that loosening rules could make building societies riskier with members' money. Some may be concerned that changes could benefit executives more than ordinary savers and borrowers.
Cast Your Vote
People's Vote1 votes
0% Support · 0100% Oppose · 1
Bill Passage
Commons
- 1st reading6 Dec 2023
- 2nd reading19 Jan 2024
- Committee stage7 Feb 2024
- Report stage19 Apr 2024
- 3rd reading19 Apr 2024
Lords
- 1st reading22 Apr 2024
- 2nd reading10 May 2024
- 3rd reading24 May 2024
Royal Assent24 May 2024
Full Bill Description(click to expand)
No description available