Article 37 Prohibition orders under section 36A of the Building Societies ActI1
United Kingdom
Where, before commencement—
a notice has been served under section 36A(1) of the original Building Societies Actf1 of intention to make a prohibition order directed to a society;
no prohibition order has been made under section 36A(6) of that Act and the society has not been notified of a decision not to issue such an order,
the notice has effect after commencement as if it were a warning notice given under section 36A(5) of the amended Building Societies Actf2.
A notice having effect under paragraph (1) has effect—
as if it stated that section 394 of the Act does not apply;
as if it informed the society that it may make representations to the Authority within a period of 28 days or within the period (if longer) specified for the purpose of section 36A(5)(c) of the original Building Societies Act.
Annotations
Commencement
- I1
Art. 37 in force at 1.12.2001, see art. 1(2)
Footnotes
- f1
-
Section 36A was inserted by the Building Societies Act 1997, section 14.
- f2
-
Section 36A(5) was substituted by paragraph 142(c) of Schedule 3 to the Mutual Societies Order.