Part I Issue of Statements to Members
Building Societies Act 1986 (1986 c 53) | Legislation

SCHEDULE 16 Mergers: Supplementary Provisions

Sections 93, 94, 95

Part I Issue of Statements to Members

1

(1)     A building society which desires—

(a)     to amalgamate with one or more other building societies, or

(b)     to transfer its engagements to another building society, or

(c)     to undertake to fulfil the engagements of another building society,

shall, unless the [appropriate authority], in the case of a society desirous of undertaking to fulfil another's engagements, has consented under section 94(5) to its proceeding by resolution of the board of directors, send to every member entitled to notice of a meeting of the society a statement concerning the matters specified in sub-paragraph (4) below.

(2)     A building society shall include the statement referred to in sub-paragraph (1) above in or with the notice to be sent to its members of the meeting of the society at which the resolutions required for the approval of the amalgamation or, as the case may be, the transfer are to be moved.

[(2A)     Where a statement is required to be sent to a member

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