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22. In section 124 of the 2009 Act (transfer of accounts), after subsection (2) insert—
“(2A) The arrangements may—
(a)cancel shares in the building society;
(b)confer rights and impose liabilities in place of cancelled shares (whether by way of actual or deemed shares in a transferee building society or by way of other rights and liabilities in relation to a transferee bank).”.
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