OpenLegislation

Paragraph 6

United Kingdom

(1)

Subject to any provision made in pursuance of sub-paragraph (2) or (3) below, a scheme must provide that, if the complainant, by notice to the adjudicator within the period specified in the scheme, accepts his determination the society or F1connected undertaking is under an obligation to take the steps it is directed to take or pay the compensation awarded or both.

(2)

A scheme may relieve a society of the obligation imposed by a determination if, but only if, the society undertakes an obligation to give notice to its members of the reasons for its non-fulfilment of the obligations imposed by the determination in the next directors’ report under section 75 and to give notice of those reasons to the public in such manner as the adjudicator requires.

(3)

A scheme may relieve F2 a connected undertaking of the obligations imposed by a determination if, but only if, each of the building societies F3of which it is a connected undertaking undertakes an obligation to give notice to its members of the reasons for the non-fulfilment of the obligations imposed by the determination in the next directors’ report under section 75 and to give notice of those reasons to the public in such manner as the adjudicator requires.

Annotations

Textual amendments

F1

Words in Sch. 12 Pt. III paras. 3-5, 6(1), 7 substituted (1.12.1997) by 1997 c. 32, s. 43, Sch. 7 para. 62(4); S.I. 1997/2668, art. 2, Sch. Pt. I(j)(l)(xvi)

F2

Words in Sch. 12 Pt. III para. 6(3) substituted (1.12.1997) by 1997 c. 32, s. 43, Sch. 7 para. 62(5)(a); S.I. 1997/2668, art. 2, Sch. Pt. I(j)(l)(xvi)

F3

Words in Sch. 12 Pt. III para. 6(3) substituted (1.12.1997) by 1997 c. 32, s. 43, Sch. 7 para. 62(5)(b); S.I. 1997/2668, art. 2, Sch. Pt. I(j)(l)(xvi)

Notes on Schedule 12

Textual amendments

F1

Sch. 12 repealed (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(2), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538 art. 2