# Building Societies Act 1986, Paragraph 5E

Extent: E+W+S+N.I.

(1) If default is made by a building society in complying with paragraph 5C or 5D 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.
(2) But no offence is committed under this paragraph, in a case in which paragraph 5C(2)(b) is relied on for compliance with a requirement under paragraph 5C(1), where—
(a) a transfer proposal notification is published for a part, but not all, of the period mentioned in paragraph 5C(3)(d); and
(b) the failure to publish that notification throughout that period is wholly attributable to circumstances which it would not be reasonable to have expected the society to prevent or avoid.

---
Source: https://www.legislation.gov.uk/ukpga/1986/53/schedule/17/paragraph/5E (the official version)
Page: https://openlegislation.uk/building-societies-act-1986/schedule-17/paragraph-5E
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.