Paragraph 1 F1

United Kingdom

(1)

The grounds for making action by a building society or connected undertaking subject to investigation under the scheme must be that the action constitutes—

(a)

in the case of a building society, a breach of the society’s obligations under this Act, its rules or any contract, or

(b)

in the case of a connected undertaking, a breach of the undertaking’s obligations under its rules (if any) or any contract, or

(c)

unfair treatment, or

(d)

maladministration, or

(e)

a decision to which sub-paragraph (2) below applies, or action consequential on such a decision,

in relation to the complainant and has caused him pecuniary loss or expense or inconvenience.

(2)

This sub-paragraph applies to any decision in connection with the provision of a relevant service which is made otherwise than in the legitimate exercise of commercial judgment.

Annotations

Textual amendments

F1: Sch. 12 Pt. III para. 1 substituted (1.12.1997) by 1997 c. 32, s. 34(2); S.I. 1997/2668, art. 2, Sch. Pt. I(f)

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F1: Sch. 12 repealed (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(2), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538 art. 2