The Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001

Application of original Building Societies Act to transitional appeals

127.—(1) Notwithstanding the repeal or amendment of provisions in the original Building Societies Act subsections (5) and (6) of section 46, subsections (1), (2), (3), (3A), (5) and (11) of section 47 and sections 48 and 49 of that Act apply to transitional building society appeals, subject to the modifications set out in this article.

(2) A “transitional building society appeal” is—

(a) an appeal which has been brought in accordance with section 46 of the original Building Societies Act but which has not been determined before commencement; or

(b) an appeal brought after commencement pursuant to article 126.

(3) For the purposes of this Chapter, in the provisions mentioned in paragraph (1)—

(a) references to appeals brought under section 46 of the original Building Societies Act are to be read as references to transitional building society appeals; and

(b) references to appeals brought under section 46(2) are to be read as references to transitional building society appeals against pre-commencement decisions falling within article 126(1)(b).

(4) In section 46(5) of the original Building Societies Act, the reference to subsection (3) of that section is omitted.

(5) In section 49 of the original Building Societies Act, the reference to “the Commission” is to be read as a reference to the Authority and this Chapter applies to any matter remitted to the building society tribunal pursuant to that section as it applies to a transitional building society appeal.