Version Superseded: 01/04/2013
Point in time view as at 22/12/2004.
Building Societies Act 1986, Cross Heading: Compensation for loss of office is up to date with all changes known to be in force on or before 09 March 2025. 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.
7(1)The consent of the [F1Authority] shall be sufficient authority for the provision for any such compensation as is mentioned in section 99(2)(a).U.K.
(2)A resolution of the board of directors passed in pursuance of the direction shall be sufficient authority for any such payments as are mentioned in section 99(2)(b).
Textual Amendments
F1Words in Sch. 8A para. 7(1) substituted (17.8.2001 for certain purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 204(a) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2
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