[Part I Issue of Statement or Summary to Members]
Building Societies Act 1986 (1986 c 53) | Legislation

SCHEDULE 17 Transfers of Business: Supplementary Provisions

Sections 97, 98

[Part I Issue of Statement or Summary to Members]

[Preliminary

1

In this Part of this Schedule—

“prescribed matters†in relation to any transfer of the business of a building society to its successor, means the matters relating to the transfer, the society, its officers, members or depositors, or the successor, which are prescribed in regulations made under paragraph 5(1) below;

“transfer statementâ€, in relation to a transfer of business by a building society, means the statement with respect to the transfer which may be sent or handed to members of the society under paragraph 2 below;

“transfer summaryâ€, in relation to a transfer of business by a building society, means the summary of the transfer statement which may be sent to members of the society under that paragraph.

Duty to send transfer statements or summaries to members

2

A building society which desires to transfer its business shall, in accordance with this Part of this Schedule, send a transfer statement, or a transfer summary, to every member entitled to notice of a meeting of the society.

3

(1)     A transfer statement,

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