Building Societies Act 1986

46 Rights of appeal. U.K.

(1) A building society which is aggrieved by a decision of the Commission—

(a) to refuse to grant authorisation,

(b) to revoke authorisation, or

(c) to impose conditions or as to the conditions imposed,

may appeal against the decision to a tribunal constituted in accordance with section 47.

(2) Any person in relation to whom the Commission, in deciding to refuse to grant or to revoke authorisation or to impose conditions, makes a determination that a person is not a fit and proper person to hold, or as the case may be, to remain in an office in the society or imposes a requirement that he be removed from an office in the society, may appeal against the decision so far as it relates to that determination or requirement.

(3) The revocation of a society’s authorisation shall not have effect until—

(a) the end of the period within which an appeal can be brought against the Commission’s decision to revoke it; and

(b) if such an appeal is brought, until it is determined or withdrawn.

(4) Subsection (3) above applies in relation to the expiry of a society’s authorisation on a refusal to grant authorisation under section 41 as it applies to the revocation of a society’s authorisation.

(5) Subject to any order of the tribunal made under section 47 (5), an appeal under subsection (1)(c) or (2) above shall not affect the operation, pending the determination of the appeal, of any condition which is the subject of the appeal; and no determination of an appeal by any person under subsection (2) above shall affect the revocation for the purposes of which the Commission made its determination or requirement in relation to that person.

(6) In this section and section 47—

• “conditions” means conditions to be complied with by a building society and imposed on the grant of authorisation under section 9, on the renewal of authorisation under section 41, on reauthorisation under section 44, or under section 42;

• “grant” includes renew; and

• “revoke” means revoke under section 43(1).

Modifications etc. (not altering text)

C1 S. 46(1)(2) extended (1.12.2001) by S.I. 2001/3592, art. 126(2)(c) (with art. 23(2))