Building Societies Act, 1942

Building Societies Act, 1942 Skip to content Disclaimer Feedback Helpdesk Gaeilge Léim go dtí an t-ábhar Séanadh Aiseolas Deasc chabhrach English Gaeilge English Produced by the Office of the Attorney General Táirgthe ag Oifig an Ard-Aighne Home Legislation Acts of the Oireachtas Statutory Instruments Pre-1922 Legislation Constitution External Resources Bills (Houses of the Oireachtas) Iris Oifigiúil / Official Gazette Revised Acts (LRC) Classified List of Legislation (LRC) Translations (acts.ie) Translations (Houses of the Oireachtas) Government Publications for Sale EU Law (EUR-Lex) FAQ Disclaimer Feedback Helpdesk Search Baile Reachtaíocht Achtanna an Oireachtais Ionstraimí Reachtúla Reachtaíocht Réamh-1922 Bunreacht Acmhainní Seachtracha Billí (Tithe an Oireachtais) Iris Oifigiúil Achtanna Athbhreithnithe (CAD) (An Coimisiún um Athchóiriú an Dlí) Liosta Rangaithe Reachtaíochta Aistriúcháin (achtanna.ie) Aistriúcháin (Tithe an Oireachtais) Foilseacháin Rialtais ar Díol Dlí AE (EUR-Lex) CCanna (Ceisteanna Coitianta) Séanadh Aiseolas Deasc chabhrach Cuardach TitleTeideal Year(s) or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile ActsAchtanna 1942 Building Societies Act, 1942 Building Societies Act, 1942 Permanent Page URL View by SectionAmharc de réir Ailt View Full ActAmharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRí arna ndéanamh faoin Acht Print Full ActPriontáil an tAcht Iomlán Number 9 of 1942. BUILDING SOCIETIES ACT, 1942. ARRANGEMENT OF SECTIONS Section 1. The Principal Act. 2. Amendment of section 15 of the Principal Act. 3. Power to take collateral security into account in determining advance. 4. Short title and collective citation. Act Referred to Housing (Amendment) Act, 1941 No. 18 of 1941 Number 9 of 1942. BUILDING SOCIETIES ACT, 1942. AN ACT TO AMEND AND EXTEND THE LAW RELATING TO BUILDING SOCIETIES. [26th May, 1942.] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS :— The Principal Act. 1.—In this Act the expression “the Principal Act” means the Building Societies Act, 1874. Amendment of section 15 of the Principal Act. 2.—(1) Section 15 of the Principal Act is hereby amended by the deletion of paragraph (2) thereof and the substitution in lieu of that paragraph of the following paragraph, that is to say :— “(2) In a permanent society the total amount so received on deposit or loan and not repaid by the society (not reckoning any loan the payment of which by the society is guaranteed by a local authority under section 3 of the Housing (Amendment) Act, 1941 (No. 18 of 1941) ) shall not at any time exceed three-fourths of the amount for the time being secured to the society by mortgages from its members.” (2) Section 15 of the Principal Act is hereby amended by the deletion of paragraph (5) thereof and the substitution in lieu of that paragraph of the following paragraph, that is to say :— “(5) Every deposit book or acknowledgment or security of any kind given for a deposit or loan by a society shall have printed or written therein or thereon, the whole of the following sections, that is to say: section 14 of the Building Societies Act, 1874, section 15 of that Act as amended by the Building Societies Act, 1942, and section 14 of the Building Societies Act, 1894.” Power to take collateral security into account in determining advance. 3.—(1) In determining the amount of any advance made before the passing of this Act upon the security of freehold or leasehold estate, a society to which the Principal Act applies shall be deemed always to have had power to take into account, besides the freehold or leasehold estate, the value of any additional security for the advance. (2) In determining the amount of any advance made after the passing of this Act upon the security of freehold or leasehold estate, a society to which the Principal Act applies shall have power to take into account, besides the freehold or leasehold estate, the value of any additional security for the advance. Short title and collective citation. 4.—(1) This Act may be cited as the Building Societies Act, 1942. (2) The Building Societies Acts, 1874 to 1936, and this Act may be cited together as the Building Societies Acts, 1874 to 1942. Privacy Statement Accessibility European Legislation Identifier (PDF) Open Data License Ráiteas Príobháideachais Inrochtaineacht Aitheantóir Eorpach Reachtaíochta (ELI) Ceadúnas Sonraí Oscailte Liosta Fianán © Government of Ireland. Oireachtas Copyright Material is reproduced with the permission of the Houses of the Oireachtas © Rialtas na hÉireann. Atáirgtear ábhar faoi Chóipcheart le cead ó Thithe an Oireachtais