# The Building Societies (Transfer Resolutions) Order 1997

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

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.

Made under: Building Societies Act 1986 (Schedule 2 paragraph 30)

## Introductory text

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 1986 and of all other powers enabling them in that behalf, and after consultation with the Building Societies Commission, hereby make the following Order:

## 1 Citation and commencement

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

## 2 Amendment 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.

---
Source: https://www.legislation.gov.uk/uksi/1997/2714 (the official version)
Page: https://openlegislation.uk/building-societies-transfer-resolutions-order-1997
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.