Building Societies Act 1986 (c. 53)

SCHEDULES

SCHEDULE 16 U.K. Mergers: Supplementary Provisions

Modifications etc. (not altering text)

C1 Sch. 16 excluded by S.I. 1986/2168, art. 9(2)(b)(3)

Part II U.K. Notification of Proposals for Merger

Modifications etc. (not altering text)

C2 Sch. 16 Pt. II (paras. 2–6) excluded by S.I. 1986/2169, art. 10

Penalty U.K.

6 [F1 (1)] If default is made by a building society in complying with paragraph 4(1), 4(2) or 5 above, the society shall be liable on summary conviction to a fine not exceeding level 4 on the standard scale; and so shall any officer who is also guilty of the offence. U.K.

[F2 (2) Where, in a case in which paragraph 4(2A)(b) is relied on for compliance with a requirement under [F3 paragraph (a) or (b)] of paragraph 4(2)—

(a) a merger statement or transfer proposal notification is published for a part, but not all, of the period mentioned in sub-paragraph (2B)(d), but

(b) the failure to publish it throughout that period is wholly attributable to circumstances which it would not be reasonable to have expected the society to prevent or avoid,

no offence is committed under this paragraph by reason of that failure.]

Textual Amendments

F1 Sch. 16 para. 6(1) renumbered (20.3.2003) by The Building Societies Act 1986 (Electronic Communications) Order 2003 (S.I. 2003/404), arts. 1(1), 26(2)

F2 Sch. 16 para. 6(2) inserted (20.3.2003) by The Building Societies Act 1986 (Electronic Communications) Order 2003 (S.I. 2003/404), arts. 1(1), 26(2)

F3 Words in Sch. 16 para. 6(2) substituted (12.4.2011) by The Mutual Societies (Electronic Communications) Order 2011 (S.I. 2011/593), arts. 1(1), 3(3)