Paragraph 27

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 2 para. 3(4) table words substituted by Building Societies Act 1986 (Assimilation to Company Law and Changes to Funding Limit) 2026 art. 2(3)
Sch. 2 para. 9(1) omitted by Building Societies Act 1986 (Assimilation to Company Law and Changes to Funding Limit) 2026 art. 2(4)
Sch. 2 Pt. 2A inserted by Building Societies Act 1986 (Assimilation to Company Law and Changes to Funding Limit) 2026 art. 2(5)

(1)

A resolution of a building society shall be a special resolution when it has been passed by not less than three-quarters of the number of the members of the society qualified to vote on a special resolution and voting either—

(a)

in person or by proxy on a poll on the resolution at a meeting of the society of which notice specifying the intention to move the resolution as a special resolution has been duly given; or

(b)

in a postal F1or electronic ballot on the resolution of which notice specifying that the resolution will not be effective unless it is passed as a special resolution has been duly given.

(2)

In any rules made by a building society on or after 1st October 1960, whether before or after the commencement of this Act, “special resolution”, unless the context otherwise requires, means a special resolution as defined in this paragraph.

Annotations

Textual amendments

F1: Words in Sch. 2 para. 27(1)(b) inserted (20.3.2003) by The Building Societies Act 1986 (Electronic Communications) Order 2003 (S.I. 2003/404), arts. 1(1), 30(8)

Notes on Schedule 2

Modifications

C1: Sch. 2 modified (3.1.1995) by 1994 c. 40, ss. 17(3), 82(2)
C2: Sch. 2 applied (with modifications) (7.4.2010) by The Building Societies (Financial Assistance) Order 2010 (S.I. 2010/1188), arts. 1(2), 8

Notes on Part III

Modifications

C1: Sch. 2 Pt. III (paras. 20–36) excluded (temp.) by S.I. 1986/2168, art. 3(1)(2)
C2: Sch. 2 Pt. III (paras. 20–36) modified by S.I. 1987/426, art. 4