{
  "url": "https://openlegislation.uk/draft-mutual-societies-transfers-order-2009/article-12",
  "json_url": "https://openlegislation.uk/draft-mutual-societies-transfers-order-2009/article-12.json",
  "legislation": "ukdsi/2009/9780111472927",
  "legislation_title": "The Mutual Societies (Transfers) Order 2009",
  "legislation_url": "https://openlegislation.uk/draft-mutual-societies-transfers-order-2009",
  "path": "article/12",
  "kind": "article",
  "number": "12",
  "heading": "Restrictions on further transfer",
  "text": "(1) Section 101 (protective provisions for specially formed successors) applies in relation to a relevant transfer with the following modifications—\n(a) in subsection (1), after “other than the society” insert “or the holding mutual”;\n(b) in subsection (4), omit paragraph (b);\n(c) in subsection (6)—\n(i) in the definition of “the protective period”, for “five years” substitute “three years”;\n(ii) omit the definition of “the requisite majority”.\n(2) The transfer provisions apply in relation to a relevant transfer as if after section 101 of the 1986 Act there were inserted—\n“Protective provisions where successor is an existing company\n101A. (1) Section 101 (as modified by the 2009 Order) applies in relation to a successor of a building society which is an existing company as it applies in relation to a successor which is a specially formed company, with the following modification.\n(2) In subsection (6), for the definition of “the protective period” substitute—\n““the protective period” is the period beginning with the date of any alterations to the company’s articles made to comply with subsection (2) above or, if no alterations are made, beginning with the vesting date, and ending three years after the vesting date or, if this section ceases to apply to the company, ending on the date on which it so ceases”.”.\n(3) In section 97—\n(a) in subsection (2), after “section 101,” insert “section 101A,”;\n(b) in subsection (4), for paragraph (a) substitute—\n“(a) secure that the successor company’s articles of association include the requisite protective provisions;”;\n(c) in subsection (12), for the definition of “the requisite protective provisions” substitute—\n““the requisite protective provisions”, in relation to a specially formed company, means the provisions required to be made by section 101(2), and in relation to an existing company, means the provisions required to be made by section 101(2) as applied by section 101A.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 101 was substituted by the Building Societies Act 1997, section 41, and subsequently amended by S.I. 1998/1120, S.I. 2001/2617, S.I. 2001/3649 and S.I. 2007/2194."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2009/9780111472927/article/12",
    "retrieved_at": "2026-10-30T14:58:08.994724+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}