Paragraph 6
United Kingdom
If default is made by a building society in complying with paragraph 4(1), 4(2) or 5 above, the society shall be liable on summary conviction to a fine not exceeding level 4 on the standard scale; and so shall any officer who is also guilty of the offence.
Where, in a case in which paragraph 4(2A)(b) is relied on for compliance with a requirement under F3paragraph (a) or (b) of paragraph 4(2)—
a merger statement or transfer proposal notification is published for a part, but not all, of the period mentioned in sub-paragraph (2B)(d), but
the failure to publish it throughout that period is wholly attributable to circumstances which it would not be reasonable to have expected the society to prevent or avoid,
no offence is committed under this paragraph by reason of that failure.
Annotations
Textual amendments
- F1
Sch. 16 para. 6(1) renumbered (20.3.2003) by The Building Societies Act 1986 (Electronic Communications) Order 2003 (S.I. 2003/404), arts. 1(1), 26(2)
- F2
Sch. 16 para. 6(2) inserted (20.3.2003) by The Building Societies Act 1986 (Electronic Communications) Order 2003 (S.I. 2003/404), arts. 1(1), 26(2)
- F3
Words in Sch. 16 para. 6(2) substituted (12.4.2011) by The Mutual Societies (Electronic Communications) Order 2011 (S.I. 2011/593), arts. 1(1), 3(3)
Notes on Schedule 16
Modifications
- C1
Sch. 16 excluded by S.I. 1986/2168, art. 9(2)(b)(3)
Notes on Part II
Modifications
- C1
Sch. 16 Pt. II (paras. 2–6) excluded by S.I. 1986/2169, art. 10