SCHEDULES
C2SCHEDULE 16 Mergers: Supplementary Provisions
C1Part II Notification of Proposals for Merger
Sch. 16 Pt. II (paras. 2–6) excluded by S.I. 1986/2169, art. 10
Penalty
6
F11
If default is made by a building society in complying with paragraph 4(1), 4(2) or 5 above, the society shall be liable on summary conviction to a fine not exceeding level 4 on the standard scale; and so shall any officer who is also guilty of the offence.
F22
Where, in a case in which paragraph 4(2A)(b) is relied on for compliance with a requirement under F3paragraph (a) or (b) of paragraph 4(2)—
a
a merger statement or transfer proposal notification is published for a part, but not all, of the period mentioned in sub-paragraph (2B)(d), but
b
the failure to publish it throughout that period is wholly attributable to circumstances which it would not be reasonable to have expected the society to prevent or avoid,
no offence is committed under this paragraph by reason of that failure.
Sch. 16 excluded by S.I. 1986/2168, art. 9(2)(b)(3)