# Building Societies Act 1997, Paragraph 66


(1) In paragraph 1 of Schedule 16 to the 1986 Act (mergers: supplementary provisions)—
(a) in sub-paragraph (4)(e), for the words “class 1 or 2 advances made by the building society” there shall be substituted the words “ loans made by the building society which are secured on land ”; and
(b) sub-paragraph (5) shall cease to have effect.
(2) For sub-paragraph (2) of paragraph 4 of that Schedule there shall be substituted the following sub-paragraphs—
“(2) In any case where merger resolutions are to be moved at any meeting of a building society, every notice of the meeting shall have included in or with it—
(a) a merger statement with respect to any merger proposal, other than a proposal of which notice has already been given under this paragraph, received by it more than 42 days before the date of the meeting; and
(b) a transfer proposal notification with respect to any transfer proposal so received by it.
(3) In this paragraph and paragraph 5 below—
“transfer proposal” has the same meaning as in Part IA of Schedule 17;
“transfer proposal notification” means a transfer proposal notification (within the meaning of that Part) required to be sent to members by paragraph 5B(1) of that Schedule.”
(3) In sub-paragraph (1) of paragraph 5 of that Schedule—
(a) after the words “merger statement” there shall be inserted the words “ or transfer proposal notification ”; and
(b) after the words “the statement” there shall be inserted the words “ or notification ”.
(4) In sub-paragraph (2) of that paragraph, after the words “merger statement” there shall be inserted the words “ or transfer proposal notification ”.

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Source: https://www.legislation.gov.uk/ukpga/1997/32/schedule/7/paragraph/66 (the official version)
Page: https://openlegislation.uk/building-societies-act-1997/schedule-7/paragraph-66
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.