Search Legislation

The Building Societies (Nominations for Directors' Election) Order 1999

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)
 Help about opening options

Opening Options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Statutory Instruments

1999 No. 3032

BUILDING SOCIETIES

The Building Societies (Nominations for Directors' Election) Order 1999

Made

5th November 1999

Laid before Parliament

10th November 1999

Coming into force

1st December 1999

The Building Societies Commission, in exercise of the powers conferred on it by section 61(4) of the Building Societies Act 1986(1), hereby makes the following Order:

Citation and commencement

1.  This Order may be cited as the Building Societies (Nominations for Directors' Election) Order 1999 and shall come into force on 1st December 1999.

Amendment of section 61 of the Building Societies Act 1986

2.  Subsection (1) of section 61 of the Building Societies Act 1986(2) (directors: supplementary provisions as to elections, etc.) is amended as follows—

(a)in paragraph (a) for “10” there is substituted “50”;

(b)in paragraph (b) for “20” there is substituted “100”;

(c)in paragraph (c) for “30” there is substituted “150”;

(d)in paragraph (d) for “40” there is substituted “200”;

(e)in paragraph (e) for “50” there is substituted “250”.

In witness whereof the common seal of the Building Societies Commission is hereunto affixed, and is authenticated by me, a person authorised under paragraph 14 of Schedule 1 to the Building Societies Act 1986, on 5th November 1999.

L.S.

G. S. Johnson

Secretary to the Commission

Explanatory Note

(This note is not part of the Order)

This Order amends section 61(1) of the Building Societies Act 1986 by making a fivefold increase in the minimum number of members whom a building society may require under its rules to nominate a person for election as a director. The minimum number is on a scale between 50 and 250 depending on the size of the society.

(2)

Section 61(1) was substituted by section 28(1) of the Building Societies Act 1997 (c. 32).

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources