COMMENTED by
The Building Societies (Transfer of Business) Regulations 1998 (Note)

The Building Societies (Transfer of Business) Regulations 1998

STATUTORY INSTRUMENTS

1998 No. 212

BUILDING SOCIETIES

The Building Societies (Transfer of Business) Regulations 1998

Made 4th February 1998

Laid before Parliament 6th February 1998

Coming into force 2nd March 1998

The Building Societies Commission, with the consent of the Treasury, in exercise of the powers conferred upon it by sections 42B(8)(b) and 102(1) and (2) of, and paragraph 5(1) and (2) of Schedule 17 to, the Building Societies Act 1986[1], and of all other powers enabling it in that behalf, hereby makes the following Regulations -

Citation and commencement

1. These Regulations may be cited as the Building Societies (Transfer of Business) Regulations 1998 and shall come into force on 2nd March 1998.

Interpretation

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

"the Act" means the Building Societies Act 1986;

"connected undertaking" means a subsidiary undertaking or an associated undertaking;

"date of the transfer notification statement" means the date upon which the Building Societies Commission approves the contents of the transfer notification statement in accordance with paragraph 9(4) of Part II of Schedule 8A to the Act;

"date of the transfer statement" means the date upon which the Building Societies Commission approves the contents of the transfer statement in accordance with paragraph 4(3) of Part I of Schedule 17 to the Act;

"group" shall be construed in accordance with section 262 of the Companies Act 1985[2]or, as the case may be, article 270(1) of the Companies (Northern Ireland) Order 1986[3];

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

"merger" means an amalgamation of building societies under section 93 (Amalgamations) of the Act or a transfer to any extent of the engagements of one building society to another under section 94 (Transfer of engagements) of the ...

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