The savings institutions recognised for the purposes of section 446 (qualifying conditions as to savings) are—
The Secretary of State may by order made with the consent of the Treasury—
add to the list in subsection (1), or
direct that a named body shall no longer be a recognised savings institution;
but before making an order under paragraph (b) he shall give an opportunity for representations to be made on behalf of the body concerned.
An order shall be made by statutory instrument.