SCHEDULES
C1SCHEDULE 15 Amalgamations, Transfers of Engagements and Conversion: Supplementary
Part II Confirmation by F7appropriate authority
Words in Sch. 15 Pt. 2 heading substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(5) (with Sch. 12)
F1Rights of policy holders
Sch. 15 para. 16A and Cross-heading inserted (1.9.1994) by S.I. 1994/1984, reg. 25, Sch. 4 para. 5
F216B
1
This paragraph applies where the F8appropriate authority confirms a transfer in accordance with paragraph 15A above and F3. . .–
F4 .
F6b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
The F8appropriate authority shall direct that–
a
b
the notice shall specify the period during which the policy holder may exercise any right to cancel the policy;
and the instrument or order shall not bind the policy holder if either such a notice is not so published or the policy holder exercises any such right during the period so specified.
3
The law of the F5 EEA StateF3. . . which is the State in which the commitment is situated shall determine–
a
whether the policy holder has a right to cancel the policy; and
b
the conditions applicable to any such right.
Sch. 15: power to modify conferred (16.1.2009) by Building Societies (Funding) and Mutual Societies (Transfers) Act 2007 (c. 26), ss. 3, 6(2); S.I. 2009/36, art. 2