Paragraph 4

United Kingdom

(1)

If the rules of the society so provide, any dispute in respect of a refusal by a building society to send to its members—

(a)

copies of an election address F1or a revised election address, in accordance with section 61(7), or

(b)

any document required to be sent under F2paragraph 20A(1)(b) or 31(1) of Schedule 2 to this Act,

shall, unless the refusal is on one of the grounds specified in sub-paragraph (2) below, be referred to arbitration.

(2)

Those grounds are—

(a)

that publicity for the document in question would be likely to diminish substantially the confidence in the society of investing members of the public, or

(b)

that the rights conferred by section 61(7) or F3paragraph 20A(1)(b) or 31(1) are being abused to seek needless publicity for defamatory matter.

Annotations

Textual amendments

F1: Words in Sch. 14 para. 4(1) inserted (1.12.1997 in specified cases and for specified purposes and otherwise in accordance with art. 2(2)(3)(5) of S.I. 1997/2668) by 1997 c. 32, ss. 43, 47(3), Sch. 7 para. 64(2)(a); S.I. 1997/2668, art. 2, Sch. Pt. II(w)(z)(xxxvii)
F2: Words in Sch. 14 para. 4(1) substituted (1.12.1997 in specified cases and for specified purposes and otherwise in accordance with art. 2(2)(3)(5) of S.I. 1997/2668) by 1997 c. 32, ss. 43, 47(3), Sch. 7 para. 64(2)(b); S.I. 1997/2668, art. 2, Sch. Pt. II(w)(z)(xxxvii)
F3: Words in Sch. 14 para. 4(2) substituted (1.12.1997 in specified cases and for specified purposes and otherwise in accordance with art. 2(2)(3)(5) of S.I. 1997/2668) by 1997 c. 32, ss. 43, 47(3), Sch. 7 para. 64(3); S.I. 1997/2668, art. 2, Sch. Pt. II(w)(z)(xxxvii)

Notes on Schedule 14

Modifications

C1: Sch. 14 excluded (temp.) by S.I. 1986/2168, art. 3(1)(4)