SCHEDULES

SCHEDULE 15 Amalgamations, Transfers of Engagements and Conversion: Supplementary

Part II Confirmation by F4Authority

Annotations:
Amendments (Textual)
F4

Word in the title of Sch. 15 Pt. II substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 128(d) (with art. 13(1), Sch. 5); S.I. 2001/3538, art. 2(1)

Confirmation by F3Authority: General

Annotations:
Amendments (Textual)
F3

Words in Sch. 15 para. 8 and the cross-heading substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 128(h) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

8

1

Where an application is duly made for confirmation by the F1Authority of an amalgamation, transfer of engagements or conversion, the F1Authority shall confirm the amalgamation, transfer or conversion unless it is precluded from doing so by any of the following provisions of this Schedule.

2

If it appears to the F1Authority, in relation to any amalgamation or transfer of engagements, that there is a substantial risk that the successor society or the person taking the transfer will not be able lawfully to carry out the engagements to be transferred to it under section 85(4) or 86(5) above, the F1Authority—

a

shall not confirm the amalgamation or transfer; and

b

where it has confirmed the amalgamation or transfer, shall F2. . . withdraw its confirmation;

but it may not withdraw its confirmation on or after the transfer date for the amalgamation or transfer.

3

For the purposes of sub-paragraph (2) above, the F1Authority may have regard to any requirements of the law of a country or territory outside the United Kingdom which appear to the F1Authority to be relevant.