99 Regulated terms: compensation for loss of office, etc
Building Societies Act 1986 (1986 c 53) | Legislation

99  Regulated terms: compensation for loss of office, etc

(1)     Subject to subsections (2) and (3) below, the terms of a transfer of business by a building society to the company which is to be its successor may include provision for compensation to be paid by the society or the company to or in respect of any director or other officer of the society for loss of office or diminution of emoluments attributable to the transfer.

(2)     Any such provision must be authorised so far as the society is concerned as follows, that is to say—

(a)     except

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