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The Building Societies (Transfer Resolutions) Order 1997
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- 1997 No. 2714
- Explanatory Note
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Explanatory Note
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This Order amends paragraph 30(2)(b) of Schedule 2 to the Building Societies Act 1986 by increasing from 20 to 50 the percentage of the members of a building society qualified to vote on a shareholding members' resolution who must have voted on such a resolution for it to be effective in transferring the business of the society to a specially formed company if it is passed.
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