SCHEDULES
C2SCHEDULE 2 Establishment, Incorporation and Constitution of Building Societies
Part I General
F4Restrictions on business names
Cross-heading inserted (1.12.1997) by 1997 c. 32, s. 36(4); S.I. 1997/2668, art. 2, Sch. Pt. I(h)
F110A
1
This paragraph and paragraph 10B below apply where a building society carries on business under a name other than the following, namely—
a
its registered name;
b
its registered name with the omission of the words “Building Society”; and
c
its registered name with an addition which merely indicates that the business is carried on in succession to a former building society with which it has merged.
2
The society shall not, without the written approval of the F2Authority, carry on business under a name which—
a
would be likely to give the impression that the business is connected with Her Majesty’s Government or with any local authority, or
b
includes any word or expression for the time being specified in regulations made under sub-paragraph (3) below.
C13
The F3Treasury may, by regulations—
a
specify words or expressions for the use of which as or as part of a business name the approval of the F2Authority is required by sub-paragraph (2) above, and
b
in relation to any such word or expression, specify a Government department or other body for the purposes of sub-paragraph (4) below.
4
Where the society proposes to carry on business under a name which is or includes any such word or expression, and a government department or other body is specified under sub-paragraph (3)(b) above in relation to that word or expression, the society shall—
a
request (in writing) the relevant body to indicate whether (and if so why) it has any objections to the proposal, and
b
submit to the F2Authority a statement that such a request has been made and a copy of any response received from the relevant body.
5
For the purposes of this paragraph “local authority” means—
a
any local authority within the meaning of the M1Local Government Act 1972, the Common Council of the City of London or the Council of the Isles of Scilly;
b
any local authority within the meaning of the M2Local Government etc. (Scotland) Act 1994;
c
any district council within the meaning of the M3Local Government Act (Northern Ireland) 1972.
Sch. 2 modified (3.1.1995) by 1994 c. 40, ss. 17(3), 82(2)