SCHEDULES
C3C4 SCHEDULE 2 Establishment, Incorporation and Constitution of Building Societies
Sch. 2 applied (with modifications) (7.4.2010) by The Building Societies (Financial Assistance) Order 2010 (S.I. 2010/1188), arts. 1(2), 8
C1C2Part III Meetings, Resolutions and Postal Ballots
Sch. 2 Pt. III (paras. 20–36) excluded (temp.) by S.I. 1986/2168, art. 3(1)(2)
Sch. 2 Pt. III (paras. 20–36) modified by S.I. 1987/426, art. 4
Annual general meeting
20
1
Subject to sub-paragraph (2) below, every building society shall hold a meeting in the first four months of each financial year as its annual general meeting (in addition to any other meetings in that year) and shall specify the meeting as such in the notices calling it.
2
Sub-paragraph (1) above does not require a building society to hold an annual general meeting in the calendar year in which it is incorporated.
3
If default is made in holding a meeting in accordance with sub-paragraph (1) above, the F1FCA may—
a
call, or direct the calling of, an annual general meeting in that financial year, and
b
give such ancillary or consequential directions as it thinks expedient, including directions modifying or supplementing the operation of the rules of the society in relation to the calling, holding and conducting of the meeting.
4
Notwithstanding anything in the rules of a building society, the business which may be dealt with at the annual general meeting shall include any resolution whether special or not.
5
In any case where default is made—
a
in holding an annual general meeting in accordance with sub-paragraph (1) above, or
b
in complying with any directions of the F1FCA given under sub-paragraph (3) above,
the building 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.
Sch. 2 modified (3.1.1995) by 1994 c. 40, ss. 17(3), 82(2)