Office of Public Sector Information

Requisite particulars of income of related business

60 (1) In paragraphs 1 to 8 of Schedule 10 to the 1986 Act (requisite particulars of income of related business), for the words “management services”, in each place where they occur, there shall be substituted the words “administrative services”.

(2) In paragraphs 1, 2, 5 and 6 of that Schedule—

(a) for the words “an advance”, in each place where they occur, there shall be substituted the words “a loan”; and

(b) the words “under section 6, 10, 17 or 19” shall cease to have effect.

(3) In paragraphs 4 and 8 of that Schedule, for the word “advances” there shall be substituted the word “loans”.

Auditors: appointment, tenure and qualifications

61 In paragraph 5 of Schedule 11 to the 1986 Act (auditors: appointment, tenure and qualifications)—

(a) in sub-paragraph (2)(c), for the word “subsidiary” there shall be substituted the words “subsidiary undertaking”; and

(b) in sub-paragraph (4), for the words “sub-paragraph (1)(f)” there shall be substituted the words “sub-paragraph (1)(b)”.

Schemes for investigation of complaints

62 (1) In Part I of Schedule 12 to the 1986 Act (schemes for investigation of complaints), for the words “Parts II and III of this Schedule” there shall be substituted the words “Part III of this Schedule”.

(2) Part II of that Schedule (matters of complaint) shall cease to have effect.

(3) In paragraph 2 of Part III of that Schedule (other requirements)—

(a) after paragraph (b) there shall be inserted the following paragraph—

“(bb) that the action is the subject of an investigation by another adjudicator (by whatever name called) operating under a comparable scheme (whether or not a recognised scheme), or was the subject of such an investigation in which a decision on the merits was made;”;

(b) in paragraph (c), for the words “associated body” there shall be substituted the words “connected undertaking”;

(c) in the first note, for the words “the registered office of the associated body” there shall be substituted the words “of the connected undertaking”; and

(d) in the second note, for the words “associated body's” there shall be substituted the words “connected undertaking's”.

(4) In paragraphs 3 to 5, 6(1) and 7 of that Part of that Schedule, for the words “associated body”, in each place where they occur, there shall be substituted the words “connected undertaking”.

(5) In paragraph 6(3) of that Part of that Schedule—

(a) for the words “an associated body” there shall be substituted the words “a connected undertaking”; and

(b) for the words “with which it is associated” there shall be substituted the words “of which it is a connected undertaking”.

Recognition etc. of schemes for investigation of complaints

63 (1) Schedule 13 to the 1986 Act (recognition etc. of schemes for investigation of complaints) shall be amended as follows.

(2) In paragraph 1 (preliminary)—

(a) in the definition of “qualifies for recognition”, for the words “the matters”, in the second place where those words occur, there shall be substituted the words “the services” and for the words “of the prescribed matters of complaint” there shall be substituted the words “relevant services”;

(b) in the definition of “conforms to the relevant requirements”, for the words “prescribed matter of complaint” there shall be substituted the words “relevant service” and for the words “that matter” there shall be substituted the words “that service”; and

(c) for the words “prescribed matters of complaint”, in the second place where they occur, there shall be substituted the words “relevant services”.

(3) In paragraph 4(2) (procedure for recognition: Commission’s initiative), for the words “prescribed matters of complaint” there shall be substituted the words “relevant services”.

(4) In paragraph 5(2) (procedure for recognition: submission by societies), for the words “of the prescribed matters of complaint”, in both places where they occur, there shall be substituted the words “relevant services”.

(5) In sub-paragraph (1) of paragraph 6 (procedure on accession to schemes), after the words “building society” there shall be inserted the words “or connected undertaking of a building society”.

(6) In sub-paragraph (2) of that paragraph—

(a) after the word “society”, in both places where it occurs, there shall be inserted the words “or undertaking”; and

(b) for the words “the prescribed matters of complaint” there shall be substituted the words “the relevant services”.

(7) In sub-paragraph (3) of that paragraph, for the words “the prescribed matters of complaint” there shall be substituted the words “the relevant services”.

(8) After that sub-paragraph there shall be inserted the following sub-paragraph—

“(3A) The central office, on receiving such a notice from a connected undertaking of a society, shall, if satisfied that the scheme is a recognised scheme to the extent required to enable the society to comply with its duty under section 83(4) in relation to the relevant services specified in the notice record the accession of the undertaking to the scheme in the public file of the society.”

(9) In sub-paragraph (4) of that paragraph—

(a) after the words “building society” there shall be inserted the words “or connected undertaking”; and

(b) after the word “society”, in the second and third places where it occurs, there shall be inserted the words “or undertaking”.

(10) In paragraph 7(2) (withdrawal of recognition), for the words “prescribed matters of complaint” there shall be substituted the words “relevant services”.

(11) In sub-paragraph (1) of paragraph 10 (withdrawal from membership), after the words “building society” there shall be inserted the words “or connected undertaking of a building society”.

(12) In sub-paragraph (2) of that paragraph—

(a) after the word “society”, in each place where it occurs, there shall be inserted the words “or undertaking”; and

(b) for the words “the prescribed matters of complaint”, in both places where they occur, there shall be substituted the words “the relevant services”.

(13) After sub-paragraph (3) of that paragraph there shall be inserted the following sub-paragraph—

“(3A) The central office, on receiving such a notice from a connected undertaking of a society, if satisfied that its withdrawal from the scheme will not result in a failure by the society to comply with the duty imposed on it by section 83(4), shall confirm the withdrawal of the undertaking from the scheme; but, if the central office is not so satisfied, the central office shall withhold its confirmation.”

(14) In sub-paragraph (4) of that paragraph—

(a) after the word “society's” there shall be inserted the words “or undertaking's”; and

(b) after the word “society” there shall be inserted the words “or undertaking”.

(15) In sub-paragraph (5) of that paragraph—

(a) after the word “society”, in the first place where it occurs, there shall be inserted the words “or connected undertaking of a society”; and

(b) after the word “society”, in the second place where it occurs, there shall be inserted the words “or undertaking”.

Settlement of disputes

64 (1) In paragraph 1(4) of Schedule 14 to the 1986 Act (settlement of disputes), for the words “paragraph 31(4)(a)” there shall be substituted the words “paragraph 20A(10)(a) or 31(4)(a)”.

(2) In sub-paragraph (1) of paragraph 4 of that Schedule—

(a) after the words “an election address” there shall be inserted the words “or a revised election address”; and

(b) for the words “paragraph 31(1)” there shall be substituted the words “paragraph 20A(1)(b) or 31(1)”.

(3) In sub-paragraph (2) of that paragraph, for the words “paragraph 31(1)” there shall be substituted the words “paragraph 20A(1)(b) or 31(1)”.

(4) After that paragraph there shall be inserted the following paragraph—

“Calling of special meeting

4A If the rules of the society so provide, any dispute in respect of a refusal by a building society to call a special meeting required to be called under paragraph 20A(1)(a) of Schedule 2 to this Act shall be referred to arbitration.”

(5) In paragraph 7(1) of that Schedule—

(a) for the words “prescribed matter of complaint” there shall be substituted the words “relevant service”; and

(b) for the words “associated body” there shall be substituted the words “connected undertaking”.

Application of companies winding up legislation to building societies

65 In paragraph 3(2) of Schedule 15 to the 1986 Act (application of companies winding up legislation to building societies), for paragraph (b) there shall be substituted the following paragraph—

“(b) every reference to an administrative receiver shall be omitted.”

Mergers: supplementary provisions

66 (1) In paragraph 1 of Schedule 16 to the 1986 Act (mergers: supplementary provisions)—

(a) in sub-paragraph (4)(e), for the words “class 1 or 2 advances made by the building society” there shall be substituted the words “loans made by the building society which are secured on land”; and

(b) sub-paragraph (5) shall cease to have effect.

(2) For sub-paragraph (2) of paragraph 4 of that Schedule there shall be substituted the following sub-paragraphs—

“(2) In any case where merger resolutions are to be moved at any meeting of a building society, every notice of the meeting shall have included in or with it—

(a) a merger statement with respect to any merger proposal, other than a proposal of which notice has already been given under this paragraph, received by it more than 42 days before the date of the meeting; and

(b) a transfer proposal notification with respect to any transfer proposal so received by it.

(3) In this paragraph and paragraph 5 below—

• “transfer proposal” has the same meaning as in Part IA of Schedule 17;

• “transfer proposal notification” means a transfer proposal notification (within the meaning of that Part) required to be sent to members by paragraph 5B(1) of that Schedule.”

(3) In sub-paragraph (1) of paragraph 5 of that Schedule—

(a) after the words “merger statement” there shall be inserted the words “or transfer proposal notification”; and

(b) after the words “the statement” there shall be inserted the words “or notification”.

(4) In sub-paragraph (2) of that paragraph, after the words “merger statement” there shall be inserted the words “or transfer proposal notification”.

Transitional and saving provisions

67 In Schedule 20 to the 1986 Act (transitional and saving provisions), the following shall cease to have effect, namely—

(a) in paragraph 1, the definitions of “existing society” and “existing rules”; and

(b) paragraphs 2 to 4, 7 to 15 and 17 and 18.