Section 105 | Financial trading stock

(1)Repealed^F1

(2)In Schedule 12 to the Finance Act 1988 (c. 39) (building societies: change of status)—

(a)in paragraph 1 (which provides that paragraphs 2 to 7 apply where there is a transfer of the whole of a building society’s business to a successor company in accordance with section 97 etc of the Building Societies Act 1986 (c. 53)) for “2” substitute “ 3 ”; and

(b)omit paragraph 2 (which relates to gilt-edged securities and other financial trading stock and is superseded by Chapter 2 of Part 4 of the Finance Act 1996).