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There are currently no known outstanding effects for the The Building Societies (Transfer of Business) Regulations 1998, Section 3.
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3.—(1) Subject to paragraph (2) below, any transfer statement sent to members of a society under paragraph 2 of Schedule 17 (Transfers of Business: Supplementary Provisions) to the Act shall give particulars of the matters specified in Part I of Schedule 1 to these Regulations, particulars of the matters specified in either Part II or Part III of that Schedule according to whether the society proposes to transfer its business to an existing company or a specially formed company, and, if shares or rights in relation to shares are to be offered in connection with the transfer, also particulars of the matters specified in Part IV of that Schedule.
(2) Where, by virtue of paragraph (1) above, particulars are required to be stated of any matter, which is not ascertainable at the time when the statement is made, there shall be substituted for that matter a forecast thereof and the fact that the particulars given in the statement relate to a forecast shall be specified in the statement and so shall particulars of—
(a)the persons making the forecast,
(b)the persons (if any) consulted for the purposes of the forecast by its makers, and
(c)the facts and assumptions on which it is based.
(3) Where, during the 12 months preceding the date of a transfer statement, a written proposal has been made to the society issuing the statement—
(a)by or on behalf of a company other than the successor company, for the society to transfer its business to that other company, or
(b)by or on behalf of another building society, for the society to merge with that building society,
paragraph (4) below shall apply to that transfer statement.
(4) Where this paragraph applies to a transfer statement the transfer statement shall, notwithstanding, in the case of a merger proposal, that notice of the proposal is required to be given to members of the society under Part II of Schedule 16 (Mergers: Supplementary Provisions) to the Act, or, in the case of a transfer proposal, that notice of the proposal is required to be given to members of the society under Part IA of Schedule 17 (Transfers of Business: Supplementary Provisions) to the Act, give particulars of the following matters—
(a)the fact of the proposal and the name of the company or society by or on whose behalf the proposal was made, save where the company or society, by or on whose behalf the proposal was made, has made in writing a request that the proposal be treated as confidential and has not withdrawn that request in writing; and
(b)the terms of the proposal, save to the extent that the company or society, by or on whose behalf the proposal was made, has made in writing in a request that any such term be treated as confidential and has not withdrawn that request in writing.
Commencement Information
I1Reg. 3 in force at 2.3.1998, see reg. 1
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