Explanatory note
(This note is not part of the Order)
This Order applies to transitional meetings of a building society, transitional meetings being those held before its rules on notice of meetings and voting at meetings conform with the Building Societies Act 1986. Article 3 provides that voting and other proceedings at such meetings of a society will be valid provided that—
the society sends notice to those to whom it would have been required to send notice had the 1986 Act not come into force and (where relevant) to borrowing members; and
the voting papers and instruments of proxy include the particulars which they would have been required to include had the 1986 Act not come into force.
Article 4 provides that failure, in a transitional meeting, to comply with the 1986 Act meetings provisions is to be disregarded where the society has complied with rules still in effect (or any failure is one to which Article 3 applies).
Certain rules relating to meetings under previous legislation were continued in effect by Article 3(2) of the Building Societies Act 1986 (Rules and Miscellaneous Transitional Provisions) Order 1986 (S.I. 1986/2168).