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The Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001

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Task of the building society tribunal in relation to a transitional building society appeal

128.—(1) On a transitional building society appeal brought under section 46(1) or (2) of the original Building Societies Act, the question for the determination of the building society tribunal is whether, for the reasons adduced by the appellant, the decision was unlawful or was not justified by the evidence on which it was based.

(2) On making its determination the building society tribunal must remit the matter to the Authority with such directions (if any) as the tribunal considers appropriate for giving effect to its determination.

(3) The Authority must exercise its powers under—

(a)Parts IV and V of the Act;

(b)Schedule 3 to the Act;

(c)the Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001;

(d)the amended Building Societies Act,

in the manner most appropriate to give effect to the building society tribunal’s direction.

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