{
  "url": "https://openlegislation.uk/building-societies-act-1986/schedule-11/paragraph-3",
  "json_url": "https://openlegislation.uk/building-societies-act-1986/schedule-11/paragraph-3.json",
  "legislation": "ukpga/1986/53",
  "legislation_title": "Building Societies Act 1986",
  "legislation_url": "https://openlegislation.uk/building-societies-act-1986",
  "path": "schedule/11/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "(1) If at any annual general meeting of a building society no auditor is appointed or re-appointed, the appropriate authority may appoint a person to fill the vacancy; and the society shall, within one week of the power of the appropriate authority becoming exercisable, give notice to the FCA and, if the society is a PRA-authorised person, to the PRA of that fact.\n(2) If a building society fails to give the notice required by sub-paragraph (1) above the society shall be liable on summary conviction—\n(a) to a fine not exceeding level 3 on the standard scale, and\n(b) in the case of a continuing offence, to an additional fine not exceeding £40 for every day during which the offence continuesX;\nand so shall any officer who is also guilty of the offence.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 11 para. 3(1) substituted (29.6.2008) by The Building Societies Act 1986 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1519), art. 1(2), Sch. 2 para. 8(b)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 11 para. 3(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 8 para. 55(2)(a) (with Sch. 12)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 11 para. 3(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 8 para. 55(2)(b) (with Sch. 12)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/53/schedule/11/paragraph/3",
    "retrieved_at": "2026-10-29T09:54:49.368285+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}