[Part IA Notification of Proposals for Transfers of Business]
Building Societies Act 1986 (1986 c 53) | Legislation

[Part IA Notification of Proposals for Transfers of Business]

[Preliminary

5A

In this Part of this Schedule—

“requisite particularsâ€, in relation to a transfer proposal, means the particulars required by paragraph 5B(2) below to be given in a transfer proposal notification;

“transferâ€, in relation to a building society, means a transfer of the whole of its business to a company under section 97,

“transfer proposalâ€, in relation to a building society, means a proposal in writing by a company for a transfer by the society to the company, with or without terms for the transfer; and “proposer†has a corresponding meaning;

“transfer proposal notification†means a notification containing the requisite particulars of a transfer proposal;

“transfer resolutionsâ€, in relation to a building society, means the resolutions required for the approval of a transfer by the society under section 97.

Duty to notify members

5B

(1)     Subject to sub-paragraph (3) below, it shall be the duty of a building society receiving a transfer proposal to send, in accordance with this Part of this Schedule, a transfer proposal notification in respect of the proposal to every member entitled to notice of a meeting of the society.

(2)

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