- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (06/04/1997)
- Gwreiddiol (Fel y'i Deddfwyd)
No versions valid at: 06/04/1997
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Building Societies Act 1986, Cross Heading: Statements to members is up to date with all changes known to be in force on or before 04 September 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.
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Yn ddilys o 09/06/1997
9(1)The following provisions of this paragraph shall apply in place of Part I of Schedule 17.
(2)The society shall send to every member entitled to notice of a meeting of the society, a statement containing—
(a)the particulars required, in relation to prescribed matters, by regulations under section 42B(8); and
(b)particulars of any other matters required by the Commission in the case of the particular transfer of business,
with or without other particulars regarding that transfer.
(3)The statement shall be sent—
(a)where the Commission has given the society a direction under section 42B(1)(b), within the period (not being less than 28 days) specified in the notice of confirmation under section 42C(2)(b);
(b)where the Commission has not given the society such a direction, within 14 days of the board of directors passing a resolution in pursuance of the direction.
(4)No statement shall be sent unless its contents, so far as they concern the prescribed matters or any matter of which particulars are required to be given under sub-paragraph (2)(b) above, have been approved by the Commission.
(5)A failure to comply with a requirement of this paragraph shall not invalidate the transfer of business; but, if the society fails without reasonable excuse to comply with such a requirement 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.
Modifications etc. (not altering text)
C1Sch. 8A para. 9 amended (2.3.1998) by S.I. 1998/212, reg. 5(1), Sch. 3
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