Source: http://www.legislation.gov.uk/ukpga/1986/53/section/107
Timestamp: 2020-02-25 03:09:57
Document Index: 771468550

Matched Legal Cases: ['art. 1', 'art. 1', 'art. 10', 'art. 1', 'art. 10', 'art. 1', 'art. 10', 'art. 1', 'art. 10']

Building Societies Act 1986, Section 107 is up to date with all changes known to be in force on or before 25 February 2020. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
s. 107(12) words omitted by S.I. 2018/1187 reg. 5
(a)the name is used in immediate conjunction with a description distinguishing the institution from a building society, being a description which has been approved for the purposes of this subsection by the [F1FCA] and the approval has not been revoked under subsection (7) below, and
as the [F1FCA] determines in its case, but need not indicate any other distinction.
if the name has been approved for the purposes of this subsection by the [F1FCA] and the approval has not been revoked under subsection (7) below.
(5)No name shall be approved for the purposes of subsection (4) above unless the [F1FCA] , having regard to—
is satisfied that the connection indicated by the name is not misleading; and, in so far as the name indicates investment or other financial support on the part of a building society the [F1FCA] shall not approve the use of the name unless it is satisfied that the name indicates no more investment or support than is the case and than is, in the opinion of the [F1FCA] , within the financial capacity of the building society to provide.
(6)An application for approval under subsection (2) or (4) above shall be made to the [F1FCA] in such form as it directs and accompanied by such information or evidence as it requires generally or in the particular case.
(7)The [F1FCA] may revoke any approval under subsection (2) or (4) above of a distinguishing description or a name, as the case may be, if it is of the opinion—
(iii)that there has been a change in the facts to which the [F1FCA] had regard in giving its approval,
(a)the first registration of a company, or the registration of a company by a new name, by [F2the registrar of companies under the Companies Act 2006], or
[F3(b)approval by the Secretary of State of words or expressions for inclusion in a business name under section 1194 of the Companies Act 2006,]
it appears to the registrar, [F4or the Secretary of State], as the case may be, that the use of the name or the words or [F5expressions] by the person seeking to register with it would contravene subsection (1) above, the registration shall not be made or the approval given.
[F6(12)In this section—
F1Word in s. 107 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 8 para. 47 (with Sch. 12)
F2Words in s. 107(10)(a) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 87(8)(a) (with art. 10)
F3S. 107(10)(b) substituted for s. 107(10)(b)(c) (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 87(8)(b) (with art. 10)
F4Words in s. 107(10) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 87(8)(c)(i) (with art. 10)
F5Word in s. 107(10) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 87(8)(c)(ii) (with art. 10)
F6S. 107(12) substituted (1.12.2001) by 2001/3649 arts. 1, 198(2)