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Building Societies Act 1986
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Changes over time for: Paragraph 6
Version Superseded: 01/12/1997
Alternative versions:
- 01/02/1991- Amendment
- 11/06/1996
Point in time - 01/12/1997- Amendment
- Stop date 01/12/2001- Amendment
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Point in time view as at 11/06/1996. This version of this provision has been superseded.
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Building Societies Act 1986, Paragraph 6 is up to date with all changes known to be in force on or before 16 November 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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6(1)Subject to any provision made in pursuance of sub-paragraph (2) or (3) below, a scheme must provide that, if the complainant, by notice to the adjudicator within the period specified in the scheme, accepts his determination the society or associated body is under an obligation to take the steps it is directed to take or pay the compensation awarded or both.
(2)A scheme may relieve a society of the obligation imposed by a determination if, but only if, the society undertakes an obligation to give notice to its members of the reasons for its non-fulfilment of the obligations imposed by the determination in the next directors’ report under section 75 and to give notice of those reasons to the public in such manner as the adjudicator requires.
(3)A scheme may relieve an associated body of the obligations imposed by a determination if, but only if, each of the building societies with which it is associated undertakes an obligation to give notice to its members of the reasons for the non-fulfilment of the obligations imposed by the determination in the next directors’ report under section 75 and to give notice of those reasons to the public in such manner as the adjudicator requires.
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