The Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001

Modifications to Building Societies Appeal Tribunal Regulations 1987

131.  The Building Societies Appeal Tribunal Regulations 1987(1) apply to transitional building society appeals after commencement (notwithstanding their revocation and the repeal of section 48 of the original Building Societies Act) with the following modifications—

(a) in regulation 2(1), after the definition of “the secretary” is inserted—

• ““transitional building society appeal” has the meaning given in article 127 of the Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001”;

(b) at the end of regulation 2, the following paragraph is inserted—

“(3) In these Regulations references to an appeal under section 46(2) of the Act shall be construed as references to a transitional building society appeal brought by a person under section 46(2).”

(c) in regulation 3 for the words “appeals under section 46 of the Act against decisions of the Commission” are substituted “transitional building society appeals”;

(d) in regulation 5(2) for the words “the Commission” the first time they occur are substituted “the Authority”;

(e) in regulation 7 for the words “the Commission” are substituted “the Authority”;

(f) in regulation 9 for the words “the Commission” are substituted the first time they occur the words “the Authority” and the words “or the Authority” are inserted after the words “the Commission” the second time they occur;

(g) in regulations 10, 11, 12 and 13, for the words “the Commission” wherever they occur are substituted the words “the Authority”;

(h) after regulation 13 is inserted the following regulation—

“Hearing as to appropriate action

13A   The Tribunal shall inform the parties of the directions (if any) it is minded to give to the Authority and shall afford the parties fourteen days in which to make written representations to it before making its determination.”;

(i) in regulation 14(1) for the words “the Commission” are substituted “the Authority”;

(j) in regulation 15 for the words “the Commission” wherever they occur are substituted “the Authority”;

(k) in regulation 19 for the words “the Commission” both times they occur are substituted the words “the Authority”.

(1)

S.I. 1987/891. The Regulations have been amended by the 2BCD Regulations, by S.I. 1993/983 and S.I. 1999/678.