Source: https://www.legislation.gov.uk/ukpga/1986/53/contents
Timestamp: 2020-08-06 01:23:50
Document Index: 27284598

Matched Legal Cases: ['art 8', 'art\n5', 'art 1', 'ART 2', 'ART 1', 'ART 2', 'arts 4', 'arts 1', 'art 3']

Building Societies Act 1986 is up to date with all changes known to be in force on or before 06 August 2020. There are changes that may be brought into force at a future date.
PART I FUNCTIONS OF THE Financial Conduct Authority and the Prudential Regulation Authority
1. Functions of the Financial Conduct Authority and the Prudential Regulation Authority in relation to building societies.
2. Financial provision for Commission.
3. Accounts of Commission and audit.
Part II Constitution of Building Societies
5. Establishment, constitution and powers.
6.The lending limit.
6A. Loans secured on land.
6B. Loans fully secured on land.
6C. Discharge of mortgages.
7. The funding limit.
8. Raising funds and borrowing.
9. Constitution of Building Societies
9A.Restrictions on certain transactions.
9B.Restriction on creation of floating charges.
Part III Advances, Loans and Other Assets
Class 1 advances and class 2 advances secured on land
10. Advances secured on land.
11. Class 1 and class 2 advances
12. Class 1 and class 2 advances: supplementary provisions.
13. Security for advances: valuation and supplementary and related provisions.
Other advances secured on land
14. Power to make advances secured on land overseas.
14A. Power to participate in secured syndicated lending.
15. Loans for mobile homes.
16. Power to lend to individuals otherwise than by class 1 or class 2 advances etc.
17. Power to hold and develop land as commercial asset.
18. Power to invest in subsidiaries and other associated bodies.
19. Power for Treasury to add powers to hold other descriptions of class 3 assets.
20. Commercial asset structure requirements for building societies.
21. Liquid assets.
Liabilities of associated bodies
22. Advances, Loans and Other Assets
23. Power to hedge.
Part IV Protection of Investors
24. Protection of Investors
25. Protection of Investors
25A. Protection of Investors
26. Protection of Investors
27. Protection of Investors
27A. Protection of Investors
28. Protection of Investors
29. Protection of Investors
29A. Protection of Investors
30. Protection of Investors
31. Protection of Investors
32. Special provisions as regards investors.
33. Assistance by building societies to other building societies.
Part V Powers to Provide Services
34. Powers to provide financial services or services relating to land.
35.Prohibition on linking services.
Part VI Powers of Control of the appropriate authority
Powers in relation to principal purpose and nature limits
36. Power to direct restructuring of business etc.
36A. Power to make prohibition orders.
37. Powers to petition for winding up etc.
Power to determine extent of building society powers
38. Power to determine building society’s powers.
39. The determination: notification, effect, appeal.
40. Power to make prohibition orders.
Powers in relation to authorisation
41. Powers of Control of the Commission
42. Powers of Control of the Commission
42A. Powers of Control of the Commission
42B. Power to direct transfers of engagements or business.
42C.Variation and revocation of transfer directions
43. Powers of Control of the Commission
43A. Powers of Control of the Commission
43B. Powers of Control of the Commission
44. Powers of Control of the Commission
45. Powers of Control of the Commission
45AA. Powers of Control of the Commission
45A. Powers of Control of the Commission
46A. Notices, hearings and appeals.
46.Rights of appeal.
47. Determination of appeals.
48. Costs, procedure and evidence.
49. Further appeals on points of law.
50. Powers of Control of the Commission
51. Powers to avoid apparent association with other bodies.
52. Powers to obtain information and documents etc.
52B. Entry of premises under warrant under section 176 of the Financial Services and Markets Act 2000.
53A. Disclosure of information.
54.Information disclosed to FCA or PRA from other sources.
55.Investigations on behalf of FCA or PRA .
56. Inspections and special meetings: general.
57. Inspections: supplementary provisions.
Part VII Management of Building Societies
58. Directors: number.
59. Chief executive and secretary.
60. Directors: elections and retirements.
61. Directors: supplementary provisions as to elections, etc.
62. Prohibition of tax-free payments to directors.
63. Directors to disclose interests in contracts and other transactions.
64. Substantial property transactions involving directors and connected persons.
65. Restriction on loans, etc. to directors and persons connected with them.
66. Sanctions for breach of s. 65.
66A. Transactions with directors and persons connected with them.
67. Directors, etc, not to accept commissions in connection with loans.
68. Records of loans, etc. for directors falling within s. 65.
Disclosure and record of related businesses
69. Disclosure and record of income of related businesses.
70. Interpretation of this Part.
Part VIII Accounts and Audit
Accounting records . . .
71. Accounting records . . .
72. Duty of directors to prepare annual accounts.
72A.Duty to prepare individual accounts
72B.Building Societies Act individual accounts
72C.Form and contents of Building Societies Act individual accounts
72D. IAS individual accounts
72E.Duty to prepare group accounts
72F.Building Societies Act group accounts
72G.Form and contents of Building Societies Act group accounts
72H. IAS group accounts
72I.Consistency of accounts
72J. Disclosures relating to directors, other officers and employees of society required in notes to accounts
72K.Disclosures about related undertakings required in notes to accounts
72L.Disclosures relating to off-balance-sheet arrangements required in notes to accounts
72M.Disclosure of auditor remuneration required in notes to accounts
73. Contents and form of annual accounts.
74. Duty of directors to prepare annual business statement.
75. Directors’ report.
75A. Business review
76. Summary financial statement for members and depositors.
Auditors and audit of accounts
77. Auditors: appointment, tenure ... , etc.
78. Auditor’s report .
78A. Signature of auditors' report
78B.Senior statutory auditor
78C.Names to be stated in copies of auditor’s report filed or published
78D.Circumstances in which names may be omitted
79. Auditor’s duties and powers .
Procedure on completion of accounts
80. Signing of balance sheet: documents to be annexed.
81. Laying and furnishing accounts, etc., to members , the FCA and the PRA .
81A. Requirements in connection with publication of accounts
81B.Interpretation of Part 8
82. Accounts and Audit
Part IX . . . Disputes
83.. . . Disputes
83A.. . . Disputes
84.. . . Disputes
85. Settlement of disputes.
Part X Dissolution, Winding Up, Mergers and Transfer of Business
86. Modes of dissolution and winding up.
87. Dissolution by consent.
88. Voluntary winding up.
89. Winding up by court: grounds and petitioners.
89A.Building society insolvency as alternative order
90. Application of winding up legislation to building societies.
90A. Application of other companies insolvency legislation to building societies.
90B.Power to alter priorities on dissolution and winding up
90C.Application of bank insolvency and administration legislation to building societies
90D.Notice to the FCA and the PRA of preliminary steps
90E.Disqualification of directors
91. Power of court to declare dissolution of building society void.
92. Supplementary.
92A. Acquisition or establishment of a business.
93. Amalgamations.
94. Transfer of engagements.
95. Mergers; provisions supplementing ss. 93 and 94.
96. Mergers: compensation for loss of office and bonuses to members.
97. Transfer of business to commercial company.
98. Transfers of business: supplementary provisions.
99. Regulated terms: compensation for loss of office, etc.
99A. Transfers of business: increased remuneration etc.
100. Regulated terms etc: distributions and share rights.
101. Protective provisions for specially formed successors.
102. Transfer regulations.
102A. Rights of second-named joint shareholders.
102B. Protection of interests of beneficiaries in the case of trustee account holders.
102C. Consequences of false declaration.
102D. Provisions supplementary to sections 102B and 102C.
103. Cancellation of registration.
Part XI Miscellaneous and Supplementary and Conveyancing Services
104. Power to amend, etc. to assimilate to company law.
104A. Registration of charges: application of company law.
105. Limited power to anticipate future statutory instrument powers.
106. Public file of the society.
107. Restriction of use of certain names and descriptions.
108. Miscellaneous and Supplementary and Conveyancing Services
109. Exemption from stamp duty.
109A.Exemptions from stamp duty land tax
110. Officers and auditors not to be exempted from liability
111. Time limit for commencing proceedings.
112. Offences: liability of officers and defence of due diligence.
113. Evidence.
114. Records.
115. Service of notices.
115A.Deemed agreement to use of web site
115B.Right to hard copy version
115C.Other agreed forms of communication
116. Form of documents.
117. Financial year of building societies.
117A.Alteration of financial year
118. Qualifying asset holding for certain powers.
118A. Miscellaneous and Supplementary and Conveyancing Services
119. Interpretation.
119A.Meaning of “associated undertaking”
120. Amendments, repeals, revocations and transitional and saving provisions.
121. Power to make transitional and saving provisions.
123. Miscellaneous and Supplementary and Conveyancing Services
Provision of conveyancing services by recognised institutions and practitioners
124. Recognition of building societies, other institutions and individuals as suitable to provide conveyancing services.
125. Short title.
2.The person who holds office as Chief Registrar may also...
4.No person who has attained the age of 70 years...
Remuneration and pensions, etc. for part-time members
5.The Commission shall pay to its part-time members such fees...
6.(1) If the Treasury so determines in the case of...
8.The Commission may appoint such staff as the chairman of...
9.The quorum of the Commission and the arrangements relating to...
10.The validity of any proceedings of the Commission shall not...
11.(1) With the exception 34specified in sub-paragraph (2) below, the...
12.The Statutory Instruments Act 1946 shall apply to all powers...
14.(1) The fixing of the common seal of the Commission...
15.(1) A document purporting to be duly executed under the...
Establishment, Incorporation and Constitution of Building Societies
1.(1) Any ten or more persons may establish a society...
2.(1) The memorandum of a building society shall state the...
3.(1) The rules of a building society shall provide for...
Requirements for alteration of purpose, powers and rules
4.(1) A building society may by special resolution alter its...
5.(1) The rules of a building society shall provide that...
6.(1) The liability at any time of a shareholding member...
7.(1) Two or more persons may jointly hold shares in...
8.(1) Where a loan secured on land is made by...
Use and change of name
9.(1) The common seal of a building society shall bear...
Offences relating to society’s name
10.(1) If a building society does not—
10A.(1) This paragraph and paragraph 10B below apply where a...
Use of business names: required disclosure
10B.(1) Paragraph 9(2A) above shall have effect as if after...
Use of business names: supplementary
10C.(1) A building society which contravenes paragraph 10A(2) above shall...
11.(1) A building society may change its principal office—
Societies to supply copies of rules etc.
12.(1) A building society shall, on demand, give a copy...
13.(1) Every building society shall maintain a register of members...
Exception to duties to send documents
14.(1) A building society is not obliged by any provision...
15.(1) At any time when a building society—
Part II Capacity of society and power of directors to bind it
Capacity of society not limited by its memorandum
16.(1) The validity of an act done by a building...
Power of directors to bind society
17.(1) In favour of a person dealing with a building...
No duty to enquire as to capacity of society etc.
18.(1) A party to a transaction with a building society...
19.(1) The central office, on receiving from a building society...
Part III Meetings, Resolutions and Postal Ballots
20.(1) Subject to sub-paragraph (2) below, every building society shall...
Special meeting on members’ requisition
20A.(1) On a members’ requisition, a building society shall—
Failure to comply with members’ requisition
20B.(1) This paragraph applies where a members’ requisition is deposited...
21.(1) Any provision contained in the rules of a building...
Persons entitled to notice of meetings
22.(1) Subject to the provisions of this Part of this...
Transmission of notice of meeting to an electronic address
22A.(1) Where a notice of a meeting of a society...
Publication of notice of meeting on a web site
22B.(1) A requirement under any provision of this Act to...
Members’ entitlement to vote on resolutions
23.(1) A member of a building society is entitled to...
24.(1) A member of a building society who is entitled...
25.(1) Any provision contained in the rules of a building...
26.No resolution of a building society shall be passed as...
27.(1) A resolution of a building society shall be a...
27A.A resolution of a building society shall be a shareholding...
28.No resolution of a building society shall be passed as...
29.(1) A resolution of a building society shall be a...
30.(1) The transfer resolutions required for the purposes of section...
Members’ right to propose and circulate resolutions
31.(1) If at least the requisite number of qualified members...
Members’ resolutions: supplementary provisions
32.(1) Notice of a resolution given under paragraph 31(1) above...
33.(1) The rules of a building society may provide for...
33A.(1) Where— (a) the rules of a building society provide...
Declarations to be made in proxy and ballot forms
34.(1) If a member of a building society who purports...
Advertising requirements in lieu of notice of meetings, etc.
35.(1) The advertising requirements referred to in paragraph 14 above,...
36.(1) For the purposes of this Part of this Schedule,...
Discharge of mortgages: supplementary provisions
1.(1) When all money intended to be secured by a...
Application of paragraph 1 to Northern Ireland
2.(1) In its application to Northern Ireland, paragraph 1 above...
Power to prescribe form of documents
3.(1) The Treasury may make rules for prescribing anything authorised...
1.In this Schedule— “authorisation” means authorisation under section 9 or...
2.(1) An application for authorisation— (a) shall be made in...
Offences in connection with application
3.(1) Any building society which furnishes any information or makes...
Part III Imposition of Conditions
4.(1) If the Commission proposes to impose conditions it shall...
5.(1) This paragraph applies where the Commission has decided to...
Part IV Revocation of Authorisation
6.(1) If the Commission proposes to revoke a society’s authorisation...
7.(1) This paragraph applies where the Commission proposes, instead of...
8.(1) This paragraph applies where the Commission has decided, instead...
Imposition of conditions on appeal
9.(1) The modifications of the provisions of Part III of...
Notice to directors and chief executives
10.Where any provision of this Schedule requires notice of any...
Provisions as to sale of mortgaged property
1.(1) Where any land has been mortgaged to a building...
2.(1) When all money intended to be secured by a...
3.(1) The Chief Registrar may make rules for prescribing anything...
1.(1) The Board shall consist of seven members as follows,...
2.(1) Subject to the following provisions of this paragraph a...
3.The Board shall pay to each member such allowances in...
4.(1) The Board shall determine its own procedure, including the...
5.(1) The fixing of the common seal of the Board...
5A.The Board may authorise— (a) any member or members of...
6.(1) The Board may determine its own financial year.
1.(1) The following provisions of this Schedule have effect for...
2.(1) Where any persons hold an investment in a building...
3.Where an investment is held on trust for any person...
4.(1) Except in the case of a partnership, where two...
5.Where an investment is made by a person whose business...
6.The Board may decline to make any payment under section...
7.In this Schedule “jointly entitled” means— (a) in England and...
8.In the application of this Schedule in relation to investments...
Investors: Special Provisions
1.(1) The provisions of this paragraph have effect where a...
Receipts by depositors under age
2.Any receipt or acknowledgment given to a building society by...
1.In this Schedule “direction” means a direction under section 36(3),...
Procedure for giving proposed direction
2.(1) If the Commission proposes to give a direction, it...
Procedure for giving different direction
3.(1) This paragraph applies where the Commission has decided to...
4.(1) The modifications of the provisions of paragraph 2 and...
5.Where any provision of this Schedule requires notice of any...
Part I The Services
1.Banking services.
2.Investment services.
3.Insurance services.
4.Trusteeship.
5.Executorship.
6.Land services.
Part II General Restrictions On Services
1.Subject to paragraphs 2, 3, 4 and 5 below, no...
2.Paragraph 1 above shall not be taken to prevent—
3.Where, as part of the power to provide banking services,...
4.The right to recover any sum overdrawn (with or without...
5.Acquiring or holding relevant investments shall not be treated as...
6.Paragraph 1 above shall not be taken to prevent the...
Part III Restrictions In Relation To Certain Services
1.In relation to the power to provide banking services—
2.In relation to the power to provide investment services—
3.In relation to the power to provide the service of...
4.In relation to the power to provide land services—
5.No employee of a building society, a subsidiary or other...
1.Any power derived from this Schedule to perform any activity...
2.Without prejudice to the general scope of any service specified...
3.(1) A building society shall, so far as regards the...
4.Where an account of a person with a building society...
5.(1) For the purposes of paragraph 1(f) and (g) of...
Land services—sanction
6.If a person performs any service in contravention of paragraph...
7.This Schedule is to be construed as relating only to...
8.In this Schedule— “arranging”, in relation to the performance of...
Transfer directions: modifications of Part X
Part I Directions under section 42B(3)
1.This Part of this Schedule applies where a direction is...
2.(1) The consent of the appropriate authority shall be sufficient...
4.No application for confirmation by the appropriate authority of the...
Grounds for not confirming transfer
5.Section 95 shall apply as if— (a) for paragraphs (a)...
Part II Directions under section 42B(4)
6.This Part of this Schedule applies where a direction is...
7.(1) The consent of the appropriate authority shall be sufficient...
8.If the appropriate authority consents to the inclusion of any...
9.(1) The following provisions of this paragraph shall apply in...
10.No application for confirmation by the appropriate authority of the...
11.Section 98 shall apply as if— (a) for paragraphs (a)...
Directors: Requisite Particulars of Restricted Transactions
1.In this Schedule— “the financial year” means the financial year...
2.(1) The particulars of a restricted transaction or arrangement required...
Requisite Particulars of Income or Related Businesses
Part I Requisite Particulars Where no Adoption of Part II
1.Where the business associate of the building society provides conveyancing...
2.Where the business associate of the building society provides the...
3.Where the business associate of the building society provides accountancy...
4.Where the business associate of the building society arranges for...
Part II Requisite Particulars on Adoption of This Part
5.Where the business associate of the building society provides conveyancing...
6.Where the business associate of the building society provides the...
7.Where the business associate of the building society provides accountancy...
8.Where the business associate of the building society arranges for...
Power to prescribe bands for Part II particulars
9.(1) The Treasury may by order prescribe, for the purposes...
10.(1) In this Schedule— “administrative services” means services falling within...
Disclosures about directors, other officers and employees in notes to accounts
Part 1 Emoluments of and dealings with directors and other officers
Aggregate amount of director’s remuneration etc
1.(1) The following must be shown— (a) the aggregate amount...
1A.(1) This paragraph applies for the purposes of the definition...
Details of individual directors' remuneration etc
2.(1) There must be shown in respect of each director...
3.(1) Subject to sub-paragraph (2), there must be shown the...
4.(1) There must be shown the amount of any compensation...
5.(1) There must be shown the aggregate amount of any...
6.(1) The following applies with respect to the amounts to...
7.(1) The amounts to be shown for any financial year...
8.(1) Where the chief executive of the society is not...
Interpretation of provisions regarding directors remuneration
9.(1) Sub-paragraphs (2) and (3) apply for the interpretation of...
10.(1) This paragraph applies, subject to sub-paragraph (4), in relation...
PART 2 Information about employees
13.(1) The following information with respect to the employees of...
Disclosures about related undertakings required in note to accounts
PART 1 Societies not required to prepare consolidated group accounts
1.(1) The following information must be given where at the...
2.(1) There must be stated in relation to shares of...
3.(1) There must be disclosed with respect to each subsidiary...
5.(1) The information required by paragraphs 6 and 7 must...
6.(1) The name of the undertaking must be stated.
7.(1) There must also be stated– (a) the aggregate amount...
8.(1) References in this Part of this Schedule to shares...
PART 2 Societies required to prepare consolidated group accounts
9.(1) The following information must be given with respect to...
10.(1) The following information must be given with respect to...
11.(1) There must be shown with respect to each subsidiary...
12.(1) The following information must be given where an undertaking...
13.(1) The information required by paragraphs 14 and 15 must...
14.(1) The name of the undertaking must be stated.
15.(1) There must also be stated– (a) the aggregate amount...
16.(1) The information required by paragraphs 17 and 18 must...
17.(1) The name of the undertaking must be stated.
18.(1) There must also be stated– (a) the aggregate amount...
19.(1) References in this Part of this Schedule to shares...
20.In this Schedule, “group” means a building society and its...
Disclosure of auditor remuneration etc required in notes to accounts
1.(1) The following must be shown— (a) the amount of...
2.The types of service in respect of which disclosure is...
Disclosure not required of remuneration for certain services provided by distant associate
3.(1) Disclosure is not required of remuneration receivable for the...
4.The auditor of a building society must supply the directors...
Meaning of “associate” and “distant associate” of auditor
5.(1) This paragraph defines what is meant in this Schedule...
6.In this Schedule— “associate of the society” means— any subsidiary...
Auditors: Appointment, Tenure...
1.(1) The first auditor of a building society may be...
2.The directors, or the building society in general meeting, may...
3.(1) If at any annual general meeting of a building...
3A.(1) Any term in a contract which, in relation to...
3B.(1) This paragraph applies to the appointment of an auditor...
3C.(1) This paragraph applies to the appointment of an auditor...
3D.(1) A person who has been, or will have been,...
3DA.(1) If— (a) a building society appoints, or purports to...
3E.(1) Where a person is auditor of a building society...
4.(1) A resolution at a general meeting of a building...
5. Auditors: Appointment, Tenure...
5A.. . . . . . . . . ....
5B.Maximum engagement period: transitional arrangements
6.(1) A building society may by resolution in general meeting...
6ZA.Application to court to remove auditor from office
6A.(1) Where an auditor of a building society is removed...
7.(1) An auditor of a building society may resign his...
8.(1) Where an auditor’s notice of resignation contains a statement...
8A.(1) Where an auditor of a building society ceases for...
Duty of building society to notify appropriate audit authority
8B.(1) Where an auditor ceases to hold office before the...
8C.(1) In this Schedule— “ appropriate audit authority ” means—...
9.In the application of this Schedule to Scotland, references to...
Part I Matters to be Provided for in Schemes
The matters for which provision is, subject to Part III...
1.The establishment and functioning of an independent body (whether corporate...
2.The identity of the members.
3.The manner in which the expenses of the scheme are...
4.The appointment of an independent adjudicator to conduct investigations under...
5.The matters action in relation to which is to be...
6.The duty of the adjudicator to investigate, and make determinations...
7.The powers of, and procedure to be followed in the...
8.The powers of the adjudicator on the making of determinations....
Determinations and their effects
9.The extent to which determinations are binding.
10.The manner in which determinations are to be communicated and...
Reports by investigators to administering body
11.The making to the body administering the scheme of regular...
12.The manner of amending or revoking the scheme.
13.Accession to membership of other societies.
14.Withdrawal from membership.
Part II Requirements for Recognised Schemes:Matters of Complaint
1.The operation or termination of a share account and the...
2.The operation or termination of a deposit account and the...
Borrowing members: class 1 or class 2 advances
3.The operation or termination of the account of a member...
4.The operation or termination of the account of a borrower...
Borrowers: other loans
5.The operation or termination of the account of a borrower...
6.The terms on which are provided, the operation of, or...
7.The terms on which are provided, the operation of, or...
8.The terms on which payments are made or received as...
9.The operation or termination of the account of a borrower...
Part III Minimum Requirements for Recognised Schemes: Other Provisions
1.(1) The grounds for making action by a building society...
2.A scheme must not exclude action from investigation on any...
3.A scheme must, as regards the duties and powers attached...
4.(1) Subject to any provision made in pursuance of sub-paragraph...
5.(1) Subject to sub-paragraph (2) below, a scheme must confer...
Effect of determinations and their communication
6.(1) Subject to any provision made in pursuance of sub-paragraph...
7.A scheme must impose on the adjudicator an obligation not...
Reports by adjudicator to administering body
8.A scheme must require reports by the adjudicator as to...
9.(1) A scheme must permit the body administering the scheme...
1.For the purposes of this Schedule, a scheme— “qualifies for...
2.(1) The function of the Commission of granting recognition of...
The register of recognised schemes
3.(1) The central office shall maintain a register of recognised...
Procedure for recognition: Commission’s initiative
4.(1) If it appears to the Commission, from its own...
Procedure for recognition: submission by societies
5.(1) Submission by or on behalf of building societies of...
Procedure on accession to schemes
6.(1) A building society or connected undertaking of a building...
7.(1) The Commission may withdraw its recognition of a scheme...
8.(1) If the Commission proposes at any time to withdraw...
9.Withdrawal of recognition by the Commission shall take effect as...
10.(1) A building society or connected undertaking of a building...
Part I Proceedings in Court
1.(1) No court other than the High Court or, in...
2.The court may hear and determine a dispute falling within...
Right of FCA and PRA to be heard
3.(1) Any person who institutes proceedings in the court in...
Part II Arbitration
Circulation of election addresses, resolutions and statements
4.(1) If the rules of the society so provide, any...
4A.If the rules of the society so provide, any dispute...
Procedure on a reference to arbitration
5.(1) This paragraph has effect in relation to an arbitration...
6.(1) Any dispute as to the rights of a member...
Disputes cognizable under a scheme
8.In this Part of this Schedule, in relation to an...
Application of Companies Winding Up Legislation to Building Societies
Part I General Mode of Application
1.The enactments which comprise the companies winding up legislation (referred...
1A.In this Schedule— “deposit” means rights of the kind described...
2.Subject to the following provisions of this Schedule, the enactments...
3.(1) The enactments shall, in their application to building societies,...
4.(1) Where any of the enactments as applied to building...
5.Any enactment which specifies a money sum altered by order...
Part II Modified Application of Insolvency Act 1986
6.In this Part of this Schedule, Part IV of the...
6ZA.Parts 4, 6, 7 and 12 of, and Schedule 10...
6A.In the following provisions of the Act a reference to...
Members of a building society as contributories in winding up
7.(1) Section 74 (liability of members) of the Act is...
8.Sections 75 to 78 and 83 in Chapter I of...
9.(1) Section 79 (meaning of “contributory”) of the Act does...
10.(1) Section 84 of the Act does not apply.
11.In subsection (1) of section 101 (appointment of liquidation committee)...
12.(1) Section 107 (distribution of property) of the Act does...
13.Sections 110 and 111 (liquidator accepting shares, etc. as consideration...
14.Section 116 (saving for certain rights) of the Act shall...
15.In sections 117 (High Court and county court jurisdiction) and...
16.(1) Section 122 (circumstances in which company may be wound...
17.Section 124 (application for winding up) of the Act does...
18.(1) In section 125 (powers of court on hearing of...
19.Section 126 (power of court, between petition and winding up...
20.If, before the presentation of a petition for the winding...
21.(1) Section 130 of the Act (consequences of winding-up order)...
22.Section 140 (appointment of liquidator by court in certain circumstances)...
23.In the application of sections 141(1) and 142(1) (liquidation committees),...
23A.Section 143 (general functions of liquidator in winding up by...
24.The conditions which the court may impose under section 147...
25.Section 154 (adjustment of rights of contributories) of the Act...
26. Application of Companies Winding Up Legislation to Building Societies
27.Section 187 (power to make over assets to employees) of...
28.(1) In section 201 (dissolution: voluntary winding up) of the...
29.In section 205 (dissolution: winding up by the court) of...
30.Sections 216 and 217 of the Act (restriction on re-use...
31.(1) Sections 218 and 219 (prosecution of delinquent officers) of...
32.(1) Where a report is made to the prosecuting authority...
32A.Section 233B of the Act (protection of supplies of goods...
33.Section 387 (meaning in Schedule 6 of “the relevant date”)...
Insolvency practitioners: their qualification and regulation
33A.Section 390 of the Act (persons not qualified to act...
33B.(1) In the following provisions of the Act, in a...
Part III Modified application of Insolvency (Northern Ireland) Order 1989
34.In this Part of this Schedule, Part V of the...
34A.In the following provisions a reference to the creditors, general...
35.(1) Article 61 (liability of members) is modified as follows....
36.Articles 62 to 65 and 69 in Chapter I of...
37.In the enactments as applied to a building society, “...
38.(1) Article 70 does not apply. (2) In the enactments...
39.In paragraph (1) of Article 87 (appointment of liquidation committee),...
40.(1) Article 93 (distribution of property) does not apply; and...
41.Articles 96 and 97 (liquidator accepting shares, etc , as...
42.Article 101 (saving for certain rights) shall also apply in...
Winding up by the High Court
43.Article 102 (circumstances in which company may be wound up...
44.Article 104 (application for winding up) does not apply.
45.(1) In Article 105 (powers of High Court on hearing...
46.Article 106 (power of High Court, between petition and winding-up...
47.If, before the presentation of a petition for the winding...
48.(1) Article 110 (consequences of winding-up order) shall have effect...
49.Article 119 (appointment of liquidator by High Court in certain...
50.In the application of Article 120(1) (liquidation committee) to building...
50A.Article 121 (general functions of liquidator in winding up by...
51.The conditions which the High Court may impose under Article...
52.Article 132 (adjustment of rights of contributories) shall have effect...
53. Application of Companies Winding Up Legislation to Building Societies
54.Article 158 (power to make over assets to employees) does...
55.(1) In Article 166 (dissolution: voluntary winding up), paragraph (2)...
55A.In Article 169 (dissolution: winding up by the High Court)...
55B.Articles 180 and 181 (restriction on re-use of name) do...
55C.(1) Articles 182 and 183 (prosecution of delinquent officers) do...
55D.(1) Where a report is made to the prosecuting authority...
55DA.Article 197B (protection of supplies of goods and services) does...
55E.Article 347 (meaning in Schedule 4 of “the relevant date”)...
55F.Article 349 (persons not qualified to act as insolvency practitioners)...
55G.(1) In the following provisions of the Order, in a...
Part IV Dissolution of Building Society wound up (England and Wales, Scotland and Northern Ireland)
56.(1) Where a building society has been wound up voluntarily,...
57.(1) Sections 1012 to 1023 and 1034 of the Companies...
Insolvency rules and fees: England and Wales and Scotland
58.(1) Rules may be made under section 411 of the...
Insolvency rules and fees: Northern Ireland
59.(1) Rules may be made under Article 359 of the...
Application of other companies insolvency legislation to building societies
1.(1) Subject to the provisions of this Schedule, the enactments...
2.(1) The enactments shall, in their application to building societies,...
3.(1) Where any of the enactments as applied to building...
4.(1) Rules may be made under section 411 of the...
5A.In this Schedule— “deposit” and “relevant deposit” have the meaning...
Part II Modified Application of Parts I to III , 6, 7, 12 and 13 of Insolvency Act 1986
6.In this Part of this Schedule, the Insolvency Act 1986...
6A.Parts 1, 3, 6, 7 and 12 of the Act,...
7.Section 1 of the Act (proposals for voluntary arrangements) has...
8.In section 2 (procedure where nominee is not liquidator or...
8A.In subsection (2) of section 4A of the Act (approval...
9.In section 6 of the Act (challenge of decisions) as...
9A.In section 7A of the Act (prosecution of delinquent officers)...
10.(1) Section 8 of the Act (power of court to...
11.(1) Subsection (1) of section 9 of the Act (application...
12.In section 10 of the Act (effect of application for...
13.In section 11 of the Act (effect of administration order),...
14.In subsection (1) of section 12 of the Act (notification...
15.Subsection (3) of section 13 of the Act (appointment of...
16.(1) Subject to sub-paragraph (2) below, section 14 of the...
17.(1) Subject to sub-paragraph (3) below, paragraph 16 of Schedule...
19.(1) Section 17 of the Act (general duties of administrator)...
21.(1) Subsection (1) of section 23 of the Act (statement...
22.Section 24 of the Act (consideration of proposals by creditors’...
23.(1) Section 25 of the Act (approval of substantial revisions)...
24.Subsection (1) of section 27 of the Act (protection of...
25.In section 38 of the Act (receivership accounts), “ prescribed...
26.In subsection (1) of section 39 of the Act (notification...
27.Subsection (3) of section 40 of the Act (payment of...
27A.Sections 42 to 49 of the Act (administrative receivers) are...
27B.Subsection (1) of section 51 of the Act (power to...
27C.Subsection (3) of section 59 of the Act (priority of...
27D.Subsection (1) of section 67 of the Act (report by...
27E.Subsection (1) of section 70 of the Act (interpretation for...
27F.Chapter 4 of Part 3 of the Act (prohibition of...
27FA.Section 233B of the Act (protection of supplies of goods...
27G.Section 390 of the Act (persons not qualified to act...
27H.(1) In the following provisions of the Act, in a...
27I.In sections 391O, 391Q and 391R of the Act a...
Part III Modified Application of Parts II, III , 4 and 12 of Insolvency (Northern Ireland) Order 1989
28.In this Part of this Schedule, the Insolvency (Northern Ireland)...
29.Article 14 of the Order (proposals for voluntary arrangements) has...
30.In Article 15 (procedure where nominee is not liquidator or...
30A.In paragraph (2) of Article 17A of the Order (approval...
31.In Article 19 of the Order (challenge of decisions) as...
31A.In Article 20A of the Order (prosecution of delinquent officers)...
32.(1) Article 21 of the Order (power of High Court...
33.(1) Paragraph (1) of Article 22 of the Order (application...
34.In Article 23 of the Order (effect of application for...
35.In Article 24 of the Order (effect of administration order),...
36.In paragraph (1) of Article 25 of the Order (notification...
37.Paragraph (3) of Article 26 of the Order (appointment of...
38.(1) Subject to sub-paragraph (2) below, Article 27 of the...
39.(1) Subject to sub-paragraph (3) below, paragraph 17 of Schedule...
41.(1) Article 29 of the Order (general duties of administrator)...
43.(1) Paragraph (1) of Article 35 of the Order (statement...
44.Article 36 of the Order (consideration of proposals by creditors’...
45.(1) Article 37 of the Order (approval of substantial revisions)...
46.Paragraph (1) of Article 39 of the Order (protection of...
47.In Article 48 of the Order (receivership accounts), “ prescribed...
48.In paragraph (1) of Article 49 of the Order (notification...
49.Paragraph (3) of Article 50 of the Order (payment of...
50.Articles 52 to 59 of the Order (administrative receivers) are...
51.Article 59A of the Order (floating charge holder not to...
52.Articles 59B to 59J of the Order (exceptions to prohibition)...
52A.Article 197B of the Order (protection of supplies of goods...
53.Article 349 of the Order (persons not qualified to act...
54.(1) In the following provisions of the Order, in a...
55.In Articles 350O, 350Q and 350R of the Order a...
Mergers: Supplementary Provisions
Part I Issue of Statements to Members
1.(1) A building society which desires— (a) to amalgamate with...
Part II Notification of Proposals for Merger
2.In this Part of this Schedule— “merger” means an amalgamation...
3.(1) Subject to sub-paragraph (3) below, it shall be the...
4.(1) A building society shall include in or with every...
Duty to notify appropriate authority
5.(1) Where a building society sends a merger statement or...
6.(1) If default is made by a building society in...
Part III Confirmation by appropriate authority : Procedure
7.An application for confirmation by the appropriate authority of an...
8.(1) Where a building society applies to the appropriate authority...
9.(1) After the date specified in pursuance of paragraph 8(2)(b)...
Transfers of Business: Supplementary Provisions
PART I Issue of statement or summary to members
1.In this Part of this Schedule— “ prescribed matters ”...
Duty to send transfer statements or summaries to members
2.A building society which desires to transfer its business shall,...
3.(1) A transfer statement, in relation to a transfer of...
4.(1) Subject to sub-paragraph (3) below, a building society shall,...
5.(1) The Treasury, may make regulations for the purpose of...
PART IA Notification of proposals for transfers of business
5A.In this Part of this Schedule— “ requisite particulars ”,...
5B.(1) Subject to sub-paragraph (3) below, it shall be the...
5C.(1) A building society shall include in or with every...
5D.(1) Where a building society sends a transfer proposal notification...
5E.(1) If default is made by a building society in...
Part II Confirmation by appropriate authority : Procedure
6.An application by a building society for confirmation by the...
7.(1) Where a building society applies for confirmation of a...
8.(1) After the date specified in the notice in pursuance...
Bankers’ Books Evidence Act 1879 (c.11)
1.In section 9(1) of the Bankers’ Books Evidence Act 1879...
2. Amendments of Enactments
Payment of Wages Act 1960 (c. 37)
3. Amendments of Enactments
4.(1) This paragraph amends the Trustee Investments Act 1961 as...
Stock Transfer Act 1963 (c.18)
5.In section 1(4) of the Stock Transfer Act 1963 (simplified...
6.In section 31(b) of the Industrial and Provident Societies Act...
Income and Corporation Taxes Act 1970 (c.10)
7. Amendments of Enactments
Banking and Financial Dealings Act 1971 (c.80)
8.(1) This paragraph amends the Banking and Financial Dealings Act...
9.In Schedule 12A (access to information: exempt information) to the...
10.(1) This paragraph amends the Consumer Credit Act 1974 as...
11.(1) This paragraph amends the Solicitors Act 1974 as follows....
Home Purchase Assistance and Housing Corporation Guarantee Act 1978 (c.27)
12.In section 3(1) (building society law) of the Home Purchase...
13. Amendments of Enactments
Charging Orders Act 1979 (c.53)
14.In section 6(1) (interpretation) of the Charging Orders Act 1979,...
15. Amendments of Enactments
16. Amendments of Enactments
17. Amendments of Enactments
18.(1) This paragraph amends the Housing Act 1985 as follows....
19.(1) This paragraph amends the Housing Associations Act 1985 as...
Industrial and Provident Societies Act (Northern Ireland)1969 (c.24 N.I.)
20.In section 31(b) of the Industrial and Provident Societies Act...
Payment of Wages Act (Northern Ireland 1970
21. Amendments of Enactments
Private Streets (Northern Ireland) Order 1980 (S.I. 1980/1086 (N.I.12))
22.In Article 33 (security not to be deemed prior mortgage...
Housing (Northern Ireland) Order 1981 (S.I. 1981/156 (N.I.3))
23.(1) This paragraph amends the Housing (Northern Ireland) Order 1981...
Property (Discharge of Mortgage by Receipt) (Northern Ireland) Order 1983 (S.I. 1983/766 (N.I.9))
24.In Article 3(10) of the Property (Discharge of Mortgage by...
Housing (Northern Ireland) Order 1983 (S.I. 1983/1118 (N.I.15))
25.In Article 3(4) of the Housing (Northern Ireland) Order 1983,...
26. Amendments of Enactments
Part I Repeals: General
Part II Revocation Extending to Great Britain
PART III Repeals and Revocations Extending Only to Northern Ireland
1.In this Schedule— “the commencement date for” any provision of...
Adoption of powers and alteration of rules
2. Transitional and Saving Provisions
3. Transitional and Saving Provisions
4. Transitional and Saving Provisions
Registration with existing authorities
5.A building society which, at the commencement date for section...
6.(1) A building society which, at the commencement date for...
Anticipation of powers: declaratory provision
7.(1) It is hereby declared that every building society has...
Unlawful anticipation of powers
8.(1) Where a building society adopts any adoptable power under...
Penalty for breach of undertaking
9.If, in breach of the obligation assumed by virtue of...
10.If the statement in a declaration made for the purposes...
11.(1) The central office, on receiving from a building society...
12.(1) Until provision is made by an order under section...
13.Until provision is made by an order under section 12(3)...
14. Transitional and Saving Provisions
15.(1) Except as provided in this paragraph, an existing director...
16.In the case of a building society established before 25th...
17.For the purposes of the application of section 118 by...
Provision of conveyancing services for building societies
18. Transitional and Saving Provisions