98 Transfers of business: supplementary provisions
Building Societies Act 1986 (1986 c 53) | Legislation

98  Transfers of business: supplementary provisions

(1)     Part I of Schedule 17 to this Act shall have effect for imposing on a building society proposing to transfer its business to a company an obligation to issue statements [or summaries] to its members relating to the proposed transfer.

[(1A)     Part IA of that Schedule shall have effect for imposing requirements for notification by a building society, to its members and to the [FCA and, if the society is a PRA-authorised person, the PRA], of the receipt by the society of a proposal for the transfer of the whole of its business to a company.]

(2)     Where application is made to the [appropriate authority] for confirmation of a transfer of business to a company it shall, except as provided in subsections (3) to (5) below, confirm the transfer; and Part II of that Schedule shall have effect with respect to the procedure on an application for such confirmation.

(3)     Subject to subsection (4) below, the [appropriate authority] shall not

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