
Print Options
PrintThe Whole
Act
PrintThe Whole
Part
PrintThe Whole
Cross Heading
PrintThis
Section
only
Changes over time for: Section 102A


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 16/01/2009
Status:
Point in time view as at 22/12/2004. This version of this provision has been superseded.

Status
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
Changes to legislation:
Building Societies Act 1986, Section 102A 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.

Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
[102A Rights of second-named joint shareholders.U.K.
(1)This section applies where the terms of a transfer of business by a building society to the company which is to be its successor include such provision as is mentioned in section 100(1).
(2)If—
(a)a person (“A”) held shares in the society throughout the requisite period;
(b)any shares in the society held by A were jointly held for any period (“the joint ownership period”) constituting the whole or part of the requisite period;
(c)A was the second-named holder of the jointly held shares for the whole or part of the joint ownership period; and
(d)no person who has priority over A for the purposes of this section held shares in the society throughout the requisite period,
the jointly held shares shall be treated for the purposes of subsections (8) and (9) of section 100 as having been held by A alone.
(3)The following persons shall have priority over A for the purposes of this section, namely—
(a)where A was not the first-named holder of the jointly held shares for any part of the joint ownership period—
(i)any person who was the first-named holder of those shares for the whole or part of that period; and
(ii)where A was the second-named holder of those shares for part only of that period, any person who was the second-named holder of those shares for a later part of that period; and
(b)where A was the first-named holder of the jointly held shares for part of the joint ownership period, any person who was the first-named holder of those shares for a later part of that period.
(4)If a person dies during the requisite period at a time when he is named in the records of the society as a joint holder of any shares jointly held, this section shall have effect in relation to any later time as if he had never been so named.
(5)In this section—
“the first-named holder”, in relation to any shares jointly held, means that one of the joint holders who is named first in the records of the society, that is to say, the person by whom alone, apart from this section, those shares would, by virtue of paragraph 7(5) of Schedule 2, be treated as held for the purposes of section 100;
“qualifying day” has the same meaning as in subsections (8) and (9) of section 100;
“the requisite period” means the period beginning two years before the end of the qualifying day and ending immediately before the vesting date;
“the second-named holder”, in relation to any shares jointly held, means that one of the joint holders who is named second in the records of the society;
“the vesting date” has the same meaning as in section 100.]
Back to top