Modifications etc. (not altering text)
C1Sch. 15: power to modify conferred (16.1.2009) by Building Societies (Funding) and Mutual Societies (Transfers) Act 2007 (c. 26), ss. 3, 6(2); S.I. 2009/36, art. 2
Textual Amendments
F1Words in Sch. 15 Pt. 2 heading substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(5) (with Sch. 12)
Textual Amendments
F2Words in Sch. 15 para. 8 cross-heading substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(8) (with Sch. 12)
10(1)Where the [F3appropriate authority] would be precluded—U.K.
(a)from confirming an amalgamation or transfer by reason of any of the defects specified in paragraph 9(1) above, or
(b)from confirming a conversion by reason of any of the defects specified in paragraph 9(2) above, [F4or
(c)from confirming a conversion by reason of paragraph 11 below,]
it may give to any friendly society participating in the amalgamation or transfer or, as the case may be, to the society proposing to convert a direction under sub-paragraph (2) below.
(2)A direction under this sub-paragraph is a direction requiring a friendly society—
(a)to take such steps to remedy the defect or defects, including the calling of a further meeting, [F5or (as the case may be) to remove the risk referred to in paragraph 11 below,] as are specified in the direction; and
(b)to furnish the [F3appropriate authority] with evidence that those steps have been taken;
and if the [F3appropriate authority] is satisfied that the steps have been taken and the defect or defects has or have been substantially remedied, [F6or (as the case may be) that the risk has been removed,] the [F3appropriate authority] shall confirm the amalgamation, transfer or conversion.
Textual Amendments
F3Words in Sch. 15 paras. 8-10 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(9) (with Sch. 12)
F4Sch. 15 para. 10(1)(c) and the word “or” immediately preceding inserted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 128(k) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F5Words in Sch. 15 para. 10(2)(a) inserted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 128(l)(i) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F6Words in Sch. 15 para. 10(2) inserted (17.8.2001 or specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 128(l)(ii) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)