Regulation 8 Building Societies (Funding) and Mutual Societies (Transfers) Act 2007

(1)

The Building Societies (Funding) and Mutual Societies (Transfers) Act 2007^f1 is amended as follows.

(2)

In section 3 (transfers to subsidiaries of other mutuals)—

(a)

in subsection (10), for paragraph (d), substitute—

“(d)
a Crown Dependency mutual society.”;

(b)

for subsection (12), substitute—

“(12)
A Crown Dependency mutual society is a body which is a cooperative or mutual undertaking of such description as the Treasury specify by order and which is established or operates in accordance the law of the Isle of Man or any of the Channel Islands.”

(3)

In subsection (14), for paragraph (c), substitute—

“(c)
a body corporate which is incorporated in the Isle of Man or the Channel Islands.”

Annotations

Footnotes

f1: 2007 c.26.