Friendly Societies Act 1992 (c. 40)

SCHEDULES

SCHEDULE 15 U.K. Amalgamations, Transfers of Engagements and Conversion: Supplementary

Modifications etc. (not altering text)

C1 Sch. 15: power to modify conferred (16.1.2009) by Building Societies (Funding) and Mutual Societies (Transfers) Act 2007 (c. 26), ss. 3, 6(2); S.I. 2009/36, art. 2

Part II U.K. Confirmation by [F1 appropriate authority]

Textual Amendments

F1 Words in Sch. 15 Pt. 2 heading substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(5) (with Sch. 12)

Confirmation by [F2 appropriate authority]: General U.K.

Textual Amendments

F2 Words in Sch. 15 para. 8 cross-heading substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(8) (with Sch. 12)

9 (1) Subject to sub-paragraph (3) below, the [F3 appropriate authority] shall not confirm an amalgamation or transfer if it considers that— U.K.

(a) some information material to the members’ decision (including any decision on an affected members’ resolution under section 86 above) about the amalgamation or transfer was not made available to all the members eligible to vote;

(b) the vote on any resolution approving the amalgamation or transfer does not represent the views of the members eligible to vote; or

(c) some relevant requirement of this Act or the rules of any friendly society participating in the amalgamation or transfer was not fulfilled or not fulfilled as regards that society.

(2) Subject to sub-paragraph (3) below, the [F3 appropriate authority] shall not confirm the conversion of a society if it considers that—

(a) some information material to the members’ decision about the conversion was not made available to all the members eligible to vote;

(b) the vote on any resolution approving the conversion does not represent the views of the members eligible to vote;

F4 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d) some relevant requirement of this Act or the rules of the society was not fulfilled.

(3) The [F3 appropriate authority] shall not be precluded from confirming an amalgamation, transfer or conversion by virtue only of the non-fulfilment of some relevant requirement of this Act or the rules of a friendly society if it appears to the [F3 appropriate authority] that it could not have been material to the members’ decision about the amalgamation, transfer or conversion and the [F3 appropriate authority] gives a direction that the failure is to be disregarded for the purposes of this paragraph.

Textual Amendments

F3 Words in Sch. 15 paras. 8-10 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(9) (with Sch. 12)

F4 Sch. 15 para. 9(2)(c) repealed (1.12.2001) by S.I. 2001/2617, arts. 2, 13(2), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)