The Building Societies (Merger Notification Statement) Regulations 1999

Interpretation

2.  In these Regulations, except where the context requires otherwise–

“the Act” means the Building Societies Act 1986;

“accepting society” means a building society to which a transferring society proposes to transfer all or, as the case may be, part of its engagements under section 94 (Transfer of engagements) of the Act(1);

“date of the merger notification statement” means the date upon which the Building Societies Commission approves the contents of the merger notification statement in accordance with paragraph 3(4) of Schedule 8A (Transfer Directions: Modification of Part X) to the Act(2);

“effective date” means the date which is the effective date for the purpose of the transfer of a society’s engagements under section 94(8) of the Act and, if more than one such date, each of them;

“member” includes where the context so requires in relation to a society which has transferred its engagements a former member of that society;

“merger notification statement” means the statement required by paragraph 3 of Schedule 8A to the Act;

“transfer of engagements” means the transfer of the engagements of a building society to one or more other building societies in accordance with section 94 of the Act;

“transferring society” means a building society that proposes to transfer, or, as the case may be, has transferred, all its engagements to one or more building societies under section 94 of the Act.

(1)

Section 94 was amended by section 43 of and paragraph 42 of Schedule 7 to the Building Societies Act 1997.

(2)

Schedule 8A was inserted by section 17(2) of and Schedule 4 to the Building Societies Act 1997.