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Building Societies Act 1986

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This is the original version (as it was originally enacted).

PART IMatters to be Provided for in Schemes

The matters for which provision is, subject to Parts II and III of this Schedule, to be made are the following:

Administration

1The establishment and functioning of an independent body (whether corporate or unincorporate) which is to administer the scheme.

2The identity of the members.

3The manner in which the expenses of the scheme are to be met by the members.

The adjudicator

4The appointment of an independent adjudicator to conduct investigations under the scheme and his tenure of office and remuneration.

Scope of scheme

5The matters action in relation to which is to be subject to investigation under the scheme and the grounds for making it subject to investigation.

Functions of adjudicator

6The duty of the adjudicator to investigate, and make determinations on, actions duly referred for investigation.

7The powers of, and procedure to be followed in the conduct of investigations by, the adjudicator.

8The powers of the adjudicator on the making of determinations.

Determinations and their effects

9The extent to which determinations are binding.

10The manner in which determinations are to be communicated and published.

Reports by investigators to administering body

11The making to the body administering the scheme of regular reports by the adjudicator as to the discharge of his functions, and their publication.

Amendment or revocation of scheme

12The manner of amending or revoking the scheme.

Accession to membership

13Accession to membership of other societies.

Withdrawal from membership

14Withdrawal from membership.

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