The Financial Services Act 2012 (Mutual Societies) Order 2013 No. 496

SCHEDULE 8 U.K. Amendments of the Building Societies Act 1986

41.—(1) Section 97(1) (transfer of business to commercial company) is amended as follows. U.K.

(2) In subsection (4)(d), for “Authority” substitute “appropriate authority”.

(3) In subsection (6), for “Authority” substitute “appropriate authority”.

(4) In subsection (8)—

(a) for “send to the Authority” substitute “send to each of the FCA and, if the society is a PRA-authorised person, the PRA”; and

(b) for “Authority shall” substitute “FCA must”.

(5) In subsection (12), for “Authority” substitute “appropriate authority”.

Commencement Information

I1 Sch. 8 para. 41 in force at 1.4.2013, see art. 1(1)

(1)

Section 97 was amended by S.I. 2001/2617 and S.I. 2009/1941. There are other amending instruments, but none is relevant.