OpenLegislation

The Building Societies (Transfer Resolutions) Order 1997

S.I. 1997/2714 · Made 13 November 1997

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

BUILDING SOCIETIES

Made 13th November 1997

Laid before Parliament 14th November 1997

Coming into force 5th December 1997

The Treasury, in exercise of the powers conferred on them by paragraph 30(6) of Schedule 2 to the Building Societies Act 1986f1 and of all other powers enabling them in that behalf, and after consultation with the Building Societies Commission, hereby make the following Order:

Annotations to the whole text

Footnotes

f1

1986 c. 53.

Contents

  1. 1Citation and commencement
  2. 2Amendment of Schedule 2 to the Building Societies Act 1986
  3. Signature
  4. Explanatory note

1Citation and commencement

This Order may be cited as the Building Societies (Transfer Resolutions) Order 1997 and shall come into force on 5th December 1997.

2Amendment of Schedule 2 to the Building Societies Act 1986

In paragraph 30(2)(b) of Schedule 2 to the Building Societies Act 1986 “50” shall be substituted for “20”.

Signature

Bob Ainsworth

Graham Allen

Two of the Lords Commissioners of Her Majesty’s Treasury

13th November 1997

Explanatory note

(This note is not part of the Order)

This Order amends paragraph 30(2)(b) of Schedule 2 to the Building Societies Act 1986 by increasing from 20 to 50 the percentage of the members of a building society qualified to vote on a shareholding members' resolution who must have voted on such a resolution for it to be effective in transferring the business of the society to a specially formed company if it is passed.