Modifications of the Building Societies Act 1986
2.—(1) The Building Societies Act 1986 is amended as follows.
(2) In section 60 (directors: elections and retirements)(1)—
(a)in subsection (4) omit “, (6), (7)”;
(b)omit subsections (5), (6), (7), (7A), (7B), (7C) and (8);
(c)in subsection (11)—
(i)in paragraph (a) omit “paragraph (b) below, subsection (12) below or”;
(ii)at the end of paragraph (a) omit “and”;
(iii)omit paragraph (b); and
(iv)in the closing words, omit “(in either case)”;
(d)omit subsection (12);
(e)in subsection (13) omit paragraph (a) (including “and” at the end of that paragraph); and
(f)omit subsection (15).
(3) In section 61 (directors: supplementary provisions as to elections, etc.)(2)—
(a)omit subsection (6); and
(b)in subsection (11) omit “(disregarding his age)”.
(4) In section 80(1) (signing of balance sheet: documents to be annexed)(3)—
(a)for “two directors” substitute “one director”; and
(b)omit “and by the chief executive of the society”.
Section 60 has been repeatedly amended. Relevant amendments were made to section 60(4) by S.I. 2001/2617 and section 27(2) of the Building Societies Act 1997 and section 60(7A), (7B) and (7C) were inserted by S.I. 2003/404.
There are no relevant amendments to section 61.
There are no relevant amendments to section 80.