SCHEDULE 8Amendments of the Building Societies Act 1986
I137
1
Section 93169 (amalgamations) is amended as follows.
2
In subsection (2)(d), for “Authority”—
a
in the first place, substitute “appropriate authority”; and
b
in the second place, substitute “FCA and, if the society is a PRA-authorised person, the PRA”.
3
In subsection (3)—
a
for “Authority” substitute “appropriate authority”;
b
before “is satisfied” insert “the FCA”; and
c
for “it shall” substitute “the FCA must”.
4
In subsection (4), for “Authority” substitute “appropriate authority”.
5
In subsection (6)—
a
for “Authority”, in each place, substitute “appropriate authority”; and
b
for “Part IV” substitute “Part 4A”.
6
In subsection (6A), for “subsection (9) of section 52 of that Act by virtue of paragraph (a) of that subsection” substitute “subsection (5) of section 55V of that Act by virtue of paragraph (a) or (b) of that subsection”.
7
In subsection (6B)—
a
for “section 55” substitute “section 55Z3”; and
b
for “Part IV” substitute “Part 4A”.
8
In subsection (6C)—
a
omit “the Authority from taking”; and
b
after “decision notice” insert “from being taken”.