[F12(1)The consent of the [F2appropriate authority] shall be sufficient authority for the provision for any such compensation as is mentioned in section 96(1)(a).U.K.
(2)A resolution of the board of directors passed in pursuance of the direction shall be sufficient authority for any such payments as are mentioned in section 96(1)(b).]
Textual Amendments
F1Sch. 8A inserted (9.6.1997) by 1997 c. 32, s. 17(2), Sch. 4; S.I. 1997/1427, art. 2(c)
F2Words in Sch. 8A substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 8 para. 54(2) (with Sch. 12)