SCHEDULES

SCHEDULE 15 Amalgamations, Transfers of Engagements and Conversion: Supplementary

Part II Confirmation by appropriate authority

. . .

F111

The F2appropriate authority shall not confirm an amalgamation, transfer of engagements or conversion unless it is satisfied that there is no substantial risk that the successor society, the proposed transferee, or the company into which the society is converted, will not have—

(a)

such permission (if any) under F3Part 4A of the Financial Services and Markets Act 2000, or

(b)

such permission (if any) under paragraph 15 of Schedule 3 to that Act (as a result of qualifying for authorisation under paragraph 12 of that Schedule),

as will enable it to carry on the business which it will have as a result of the amalgamation, transfer or conversion without contravening section 19 of that Act (the general prohibition).