# The Mutual Societies (Transfers) Order 2009, Article 13: Modified application of sections 102B and 102C of the 1986 Act

Extent: E+W+S+N.I.

(1) Section 102B of the 1986 Act (protection of interests of beneficiaries in the case of trustee account holders) applies in relation to a relevant transfer with the following modifications—
(a) in subsection (2), for paragraph (a) substitute—
“(a) a distribution among members of the society of part of the funds of the society or the holding mutual made in accordance with section 4 of the 2007 Act and article 7 of the 2009 Order, but not a distribution within section 100(2)(b), or”;
(b) in subsection (3), for “and its successor” substitute “, its successor and the holding mutual”;
(c) in subsection (6), for “and its successor” substitute “, its successor and the holding mutual”.
(2) Section 102C of the 1986 Act (consequences of false declaration) applies in relation to a relevant transfer with the following modifications—
(a) in subsection (1)(b)(i), after “the society’s successor” insert “or the holding mutual”;
(b) in subsection (2), after “the successor”, in each place where it occurs, insert “or the holding mutual”;
(c) in subsection (4), after “the successor”, in each place where it occurs, insert “or the holding mutual”.

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Source: https://www.legislation.gov.uk/uksi/2009/509/article/13 (the official version)
Page: https://openlegislation.uk/mutual-societies-transfers-order-2009/article-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.