Paragraph 1

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

Sch. word substituted by Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) 2001 art. 213(6)
Sch. para. 1 words substituted by Financial Services Act 2012 (Mutual Societies) 2013 Sch. 10 para. 5(2)(b)
Sch. para. 2 words substituted by Financial Services Act 2012 (Mutual Societies) 2013 Sch. 10 para. 5(2)(b)

The fact that the board of directors of the transferring society is proceeding to transfer the engagements of the society to the accepting society by board resolution at the direction of the Building Societies Commission.