Part III Meetings, Resolutions and Postal Ballots
Building Societies Act 1986 (1986 c 53) | Legislation

Part III Meetings, Resolutions and Postal Ballots

Annual general meeting

20

(1)     Subject to sub-paragraph (2) below, every building society shall hold a meeting in the first four months of each financial year as its annual general meeting (in addition to any other meetings in that year) and shall specify the meeting as such in the notices calling it.

(2)     Sub-paragraph (1) above does not require a building society to hold an annual general meeting in the calendar year in which it is incorporated.

(3)     If default is made in holding a meeting in accordance with sub-paragraph (1) above, the [FCA] may—

(a)     call, or direct the calling of, an annual general meeting in that financial year, and

(b)     give such ancillary or consequential directions as it thinks expedient, including directions modifying or supplementing the operation of the rules of the society in relation to the calling, holding and conducting of the meeting.

(4)     Notwithstanding anything in the rules of a building society, the business which may be dealt with at the annual general meeting shall include any resolution whether special or not.

(5)     In any case where default is made—

(a)     in holding an annual general meeting

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