Consultation: Amendments to the Building Societies Act 1986

Building societies are mutually-owned providers of mortgages and savings products. The primary piece of legislation for building societies is the Building Societies Act 1986, which sets out their distinctive model and other legal requirements.

This consultation requests views on proposals to update the Building Societies Act 1986 with regard to building societies’ funding model and corporate governance requirements. It also requests views on future trends which may impact building societies’ funding models.

The Government welcomes views from all those interested in this consultation, which may include:

• Building Societies

• Industry bodies/ Trade associations with an interest in building societies

• Policy makers and regulatory bodies

• Industry experts

This consultation will run for 12 weeks and close at 11:45pm on 28 February 2022.