Building Societies

Building Societies authorised PRE-1.8.08 only

PLEASE NOTE THAT THIS HANDBOOK WILL NOT APPLY AFTER 31ST DECEMBER 2008 and IT DOES NOT APPLY TO ANY BUSINESS WHICH BECOMES A LICENCEHOLDER AFTER 1ST AUGUST 2008.

1. Introduction

The Building Societies handbook is produced to provide building societies which are authorised by the Financial Supervision Commission, and other interested parties with easy assess to the legislation and guidance relating to building societies’ activities in or from the Isle of Man.

The handbook is only produced in an on-line format. However, copies of all statutory documents (original, un-amended, legislation) may be obtained from the Tynwald Library, by quoting the SD number shown at the top of each document.

Please find links below to the Building Societies Act, secondary legislation (regulations) and relevant pieces of guidance.

Other legislation may be found in handbooks relating to other licensable activities: Banking, Fiduciaries (Corporate Service Providers and Trust Service Providers), Investment Businesses (including Stockbrokers), Collective Investment Schemes. In case of any query, please contact the Banking Supervision team at the Commission, on +44 (0)1624 689320.

2. Legislation

2.1 The Primary legislation governing building societies’ activities in or from the Isle of Man is the Building Societies Act 1986.

The following secondary legislation is made under powers contained in the Building Societies Act. Where the legislation has been amended after it was made, the “as amended” version is shown:

2.2 Building societies which conduct other regulated activities are also subject to the other relevant legislation. Please see Banking Handbook, Investment Business Handbook and/ or Fiduciaries Handbook for relevant legislation and guidance.

3. Guidance and forms applicable to building societies

The Commission has issued the following guidance and forms relating to building societies:

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Terms & Conditions

F.S.C. Handbooks

Building Societies

Building Societies authorised PRE-1.8.08 only