Paragraph 6

United Kingdom

(1)

Any dispute as to the rights of a member of a building society under paragraph 15 of Schedule 2 to this Act shall be referred to the F1FCA .

(2)

The reference of a dispute to the FCA under this paragraph shall be treated as a reference to arbitration; and its award shall have the same effect as that of an arbitrator acting in a reference under paragraph 4(1) above.

F2(3)

The FCA must consult the PRA before making any such award.

Annotations

Textual amendments

F1: Word in Sch. 14 para. 6 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 8 para. 56(5)(a) (with Sch. 12)
F2: Sch. 14 para. 6(3) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 8 para. 56(5)(b) (with Sch. 12)

Notes on Schedule 14

Modifications

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