Building Societies Act 1986

PART I Matters to be Provided for in Schemes

The matters for which provision is, subject to Parts II and III of this Schedule, to be made are the following:

Administration

1 The establishment and functioning of an independent body (whether corporate or unincorporate) which is to administer the scheme.

2 The identity of the members.

3 The manner in which the expenses of the scheme are to be met by the members.

The adjudicator

4 The appointment of an independent adjudicator to conduct investigations under the scheme and his tenure of office and remuneration.

Scope of scheme

5 The matters action in relation to which is to be subject to investigation under the scheme and the grounds for making it subject to investigation.

Functions of adjudicator

6 The duty of the adjudicator to investigate, and make determinations on, actions duly referred for investigation.

7 The powers of, and procedure to be followed in the conduct of investigations by, the adjudicator.

8 The powers of the adjudicator on the making of determinations.

Determinations and their effects

9 The extent to which determinations are binding.

10 The manner in which determinations are to be communicated and published.

Reports by investigators to administering body

11 The making to the body administering the scheme of regular reports by the adjudicator as to the discharge of his functions, and their publication.

Amendment or revocation of scheme

12 The manner of amending or revoking the scheme.

Accession to membership

13 Accession to membership of other societies.

Withdrawal from membership

14 Withdrawal from membership.