The Building Societies Act 1874 ( 37 & 38 Vict. c. 42) was an act of the

Parliament of the United Kingdom The Parliament of the United Kingdom of Great Britain and Northern Ireland is the supreme legislative body of the United Kingdom, and may also legislate for the Crown Dependencies and the British Overseas Territories. It meets at the Palace ...

that consolidated and amended statutes relating to

building societies A building society is a financial institution owned by its members as a mutual organization, which offers banking institution, banking and related financial services, especially savings and mortgage loan, mortgage lending. They exist in the Unit ...

Passage

Leave to bring in the Building Societies Bill to the

House of Commons The House of Commons is the name for the elected lower house of the Bicameralism, bicameral parliaments of the United Kingdom and Canada. In both of these countries, the Commons holds much more legislative power than the nominally upper house of ...

was granted to William McCullagh Torrens , Spencer Horatio Walpole , Edward Temperley Gourley , Sir Gabriel Goldney, Joseph Dodds and Sir Charles Russell, 3rd Baronet on 30 March 1874. The bill had its first reading in the

on X, presented by . The bill had its second reading in the

on 28 March 1874 and was committed to a select committee, which reported on 15 May 1874, with amendments. The amended bill was re-committed to a committee of the whole house, which met and reported on 4 June 1874, with amendments. The amended bill was re-committed to a committee of the whole house, which met on 10 June 1874 and 11 June 1874 and reported on 16 June 1874, with amendments. The amended bill had its third reading in the

on 20 June 1874 and passed, without amendments. The bill had its first reading in the

House of Lords The House of Lords is the upper house of the Parliament of the United Kingdom. Like the lower house, the House of Commons of the United Kingdom, House of Commons, it meets in the Palace of Westminster in London, England. One of the oldest ext ...

on 22 June 1874. The bill had its second reading in the

on 6 July 1874 and was committed to a committee of the whole house, which met on 9 July and 16 July 1874 and reported on 16 July 1874, with amendments. The amended bill had its third reading in the

on 17 July 1874 and passed, with amendments. The amended bill was considered and agreed to by the

on 22 July 1874. The bill was granted

royal assent Royal assent is the method by which a monarch formally approves an act of the legislature, either directly or through an official acting on the monarch's behalf. In some jurisdictions, royal assent is equivalent to promulgation, while in othe ...

on 30 July 1874.

Provisions

Section 7 of the act repealed the Benefit Building Societies Act 1836 ( 6 & 7 Will. 3. c. 32), but provided that this would not affect any societies incorporated or acts done under that act before repeal. Section 8 of the act provided that every society incorporated under the Benefit Building Societies Act 1836 ( 6 & 7 Will. 3. c. 32) may be able to obtain a certificate of incorporation under the act, unless otherwise provided.

Legacy

The act was described as a Consolidation Act. Paragraphs 2 and 4 of section 16 and parts of section 43 of the act were repealed by the Building Societies Act 1894 ( 57 & 58 Vict. c. 47).

Notes

References

{{Authority control United Kingdom Acts of Parliament 1874 Consolidation Acts Building societies of the United Kingdom