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Building Societies Act 1986
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- Deddfau Cyhoeddus Cyffredinol y Deyrnas Unedig
- 1986 c. 53
- SCHEDULE 11
- Removal of auditor on...
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Changes over time for: Cross Heading: Removal of auditor on improper grounds
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Changes to legislation:
Building Societies Act 1986, Cross Heading: Removal of auditor on improper grounds is up to date with all changes known to be in force on or before 28 May 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 5(11)-(14) inserted by 2007 c. 26 s. 1(2)
- s. 5(13)(a) substituted by S.I. 2013/496 Sch. 8 para. 4(4)
- s. 7(6A)-(6C) inserted by 2007 c. 26 s. 1(1)(a)
- s. 7(8A) inserted by 2007 c. 26 s. 1(1)(c)
- s. 176ZB excluded by S.I. 2017/400 reg. 14
- s. 246ZA-246ZC excluded by S.I. 2017/400 reg. 15
- s. 246ZD excluded by S.I. 2017/400 reg. 16
[F1Removal of auditor on improper groundsU.K.
Textual Amendments
F1Sch. 11 para. 6A and cross-heading inserted (29.6.2008) by The Building Societies Act 1986 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1519), arts. 1(2), 6(1)
6A.(1)Where an auditor of a building society is removed from office [F2, other than by order of the High Court made under paragraph 6ZA,] an application may be made to the High Court under this paragraph.U.K.
(2)The persons who may make such an application are—
(a)any member of the society who was also a member at the time of the removal;
[F3(b)the FCA; and
(c)if the society is a PRA-authorised person, the PRA.]
(3)If the court is satisfied that the removal was—
(a)on grounds of divergence of opinion on accounting treatments or audit procedures, or
(b)on any other improper grounds,
it may make such order as it thinks fit for giving relief in respect of the removal.
(4)The court may, in particular—
(a)declare that any resolution of the society removing an auditor, or appointing a new auditor in his place, is void;
(b)require the directors of the society to re-appoint the auditor until the next general meeting of the society;
(c)give directions as to the conduct of the society’s affairs in the future.]
Textual Amendments
F2Words in Sch. 11 para. 6A(1) inserted (17.6.2016) by The Statutory Auditors and Third Country Auditors Regulations 2016 (S.I. 2016/649), reg. 1(1)(a), Sch. 4 para. 8(e) (with reg. 1(6))
F3Sch. 11 para. 6A(2)(b)(c) substituted for Sch. 11 para. 6A(2)(b) (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 8 para. 55(5) (with Sch. 12)
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