61 Directors: supplementary provisions as to elections, etc
Building Societies Act 1986 (1986 c 53) | Legislation

61  Directors: supplementary provisions as to elections, etc

[(1)     Rules made under section 60(10)(a), in order to comply with this section, must not require—

(a)     in the case of a society whose total commercial assets do not exceed £100 million, more than [50] members;

(b)     in the case of a society whose total commercial assets exceed £100 million but do not exceed £250 million, more than [100] members;

(c)     in the case of a society whose total commercial assets exceed £250 million but do not exceed £1,000 million, more than [150] members;

(d)     in the case of a society whose total commercial assets exceed £1,000 million but do not exceed £5,000 million, more than [200] members; and

(e)     in the case of a society whose total commercial assets exceed £5,000 million, more than [250] members,

to join in nominating a person for election as a director.

(2)     Rules under section 60(10)(b), in order to comply with this section, must not require a nominating member—

(a)     to have been a member for more than two years before the date of the nomination; or

(b)     if he claims eligibility as a shareholding member, to hold, or to have held at any

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