Home / EFP / BUILDING SOCIETIES vol 6(1)

BUILDING SOCIETIES vol 6(1)

Stop drafting from scratch and work more productively.

Offering an unrivalled collection of non-litigation precedents for everything specialist and generalist practitioners are likely to encounter.

TAKE A FREE TRIAL

BUILDING SOCIETIES vol 6(1)

Back to full list

Commentary

1.1 Building Societies Act 1986

1.2 Subsequent legislation

1.3 Financial Services and Markets Act 2000

1.4 The continuing Building Societies Act 1986

1.5 Financial Services Act 2012

2 Financial Conduct Authority

3 Prudential Regulation Authority

4 Memorandum of Understanding between the Financial Conduct Authority and the Prudential Regulation Authority

5 Functions and objectives of the Financial Conduct Authority

6 Functions and objectives of the Prudential Regulation Authority

7 Fees of the Financial Conduct Authority and the Prudential Regulation Authority

8 Regulatory powers particular to mutual societies

9 Responsibilities and powers of the Prudential Regulation Authority

10 Powers inherited from the Financial Services Authority

11 FCA Handbook, PRA Rulebook and Supervisory Statements

12 Transfer of functions of the Central Office

13 Form of documents to be sent under the Building Societies Act 1986

14 Financial Services Compensation Scheme

15 References and appeals from decisions of the Financial Conduct Authority or Prudential Regulation Authority

16 Purpose of a building society

17 Powers of a building society

18 Building societies and the ultra vires rule

19 Incorporation of a building society

20 Memorandum of a building society

21 Contents of the memorandum of a building society

22 Effect of the memorandum

23 Rules of a building society

24 Rules of a building society—effect of the rules

25 Obligations on existing building society to adopt memorandum and alter rules

26 Obligations on existing building society to further amend memorandum and rules

27 Alteration of the memorandum and rules

28 Date for alteration of the memorandum and rules to take effect

29 Registration of alteration of building society memorandum or rules

30 Publication of memorandum and rules

31 Change of name

32 Use of a building society’s name

33 Restrictions on business names

34 Change of principal office

35 Authorisation

36 The approach of the Financial Conduct Authority and the Prudential Regulation Authority to authorisation

37 Threshold conditions—the Financial Conduct Authority and the Prudential Regulation Authority

38 Limitations and requirements

39 Application for authorisation

40 Information to be supplied to the Prudential Regulation Authority

41 Approval of persons performing controlled functions

42 Determination of the application

43 Variation and cancellation of Part 4A permission

44 Introduction

45 Fundamental Rules

46 Minimum requirements for own funds and eligible liabilities (MREL)

47 Exercising certain functions under the Building Societies Act 1986

48 The PRA’s approach to supervising liquidity and funding risks

49 Supervising Building Societies Treasury and lending activities

50 Fees: PRA approach and application

51 Definition of capital (CRR firms)

52 Implementing capital buffers

53 Enhancing banks’ and insurers’ approaches to managing financial risks from climate change

54 Deposit and dormant account protection

55 Recovery planning

56 Guidelines for completing regulatory reports

57 The Internal Capital Adequacy Assessment Process (ICAAP) and Supervisory Review and Evaluation Process (SREP)

58 Capital requirements for major UK banks and building societies

59 Membership of a building society

60 Voting rights of members of a building society

61 Minors as members of a building society

62 Joint shareholders in a building society

63 Rights of second-named joint shareholders

64 Payment out of investment of deceased members

65 Meetings of a building society

66 Annual general meeting

67 Business of the annual general meeting

68 Special meeting on members’ requisition

69 Notice of meetings

70 Persons entitled to receive notice

71 Summary financial statement and notice of merger proposals

72 Voting rights

73 Voting by proxy and declaration by person appointing proxy

74 Date for deposit of proxy instruments

75 Postal ballots

76 Notice of postal ballots

77 Manner of giving notice of postal ballot

78 Declarations in voting papers

79.1 Introduction to the categories of resolution

79.2 Special resolutions

79.3 Borrowing members’ resolutions

79.4 Shareholding members’ resolutions

80 Members’ right to propose resolutions

81 Number and qualification of members entitled to propose resolutions

82 Latest date for notice to the building society

83 Obligation of building society to circulate notice and statement

84 Exceptions to building society’s obligation to circulate notice and statement

85 The officers

86 Appointment of chief executive and secretary

87 Election and co-option of directors

88 Entitlement to vote in elections

89 Eligibility to be a director

90 Age limits for directors

91 Regular retirement of elected directors

92 Conditions for nomination for election

93 Retirement of co-opted directors

94 Notice of change of directorship

95 Money laundering reporting officer

96 Approval by the Financial Conduct Authority or Prudential Regulation Authority

97 Appointment of auditors

98 Removal of auditors

99 Resignation by auditors

100 Notice of resolutions affecting auditorship

101 General

102 Overview of merger procedure

103 Prudential issues

104 Amalgamations

105 Registration of amalgamations

106 Effect of an amalgamation

107 Transfers of engagements

108 Resolutions by transferor building society

109 Resolutions by transferee building society

110 Statement concerning the merger

111 Registration and effect of transfer of engagements

112 Schedule 16 Statements

113 Service of statement

114 Board rationale

115 Merger documents

116 Compensation for loss of office and increased emoluments

117 Bonus distributions

118 Transfers of engagements under direction

119 General

120 Procedure for transfer of business

121 Overview of transfer procedure

122 Prudential information

123 Compensation for loss of office

124 Distribution and share rights for members

125 Protective provisions for successor company

126 Transfer resolutions

127 Transfer statements and transfer summaries

128 The transfer document

129 Effect of the transfer

130 Transfers of business under direction

131 Tax reliefs on transfer of business

132 Application for confirmation

133 Consideration by the Prudential Regulation Authority

134 Confirmation of a merger

135 Confirmation of a transfer of business

136 Remedying defects

137 Obligation to give notice

138 The requisite particulars

139 Notice to be given with notice of annual general meeting

140 Notice to be given with notice of merger resolutions

141 Notice to the Financial Conduct Authority and Prudential Regulation Authority

142 Obligation to give notice

143 The requisite particulars

144 Notice to be given with notice of annual general meeting

145 Notice to the Financial Conduct Authority and Prudential Regulation Authority

146 General

147 Requirements

148 Publishing the procedures

149 Following the procedures

150.1 Time limits for dealing with a complaint

150.2 Inapplicability of certain time limits

151.1 Record keeping

151.2 Reporting

151.3 Cooperation with the Ombudsman

152 Jurisdiction

153 Eligible complainants

154 Time limits for bringing a complaint

155 Preliminary considerations by the Ombudsman

156 Dismissal without consideration of the merits

157 Investigation of complaints by the Ombudsman

158 Information and evidence

159 Time limits

160 Determination of complaints

161 Awards

162 Interest and costs

163 Settlement of disputes: general

164 Settlement by the court

165 Settlement by the court in default of arbitration

166 Notice of court proceedings to the Financial Conduct Authority and Prudential Regulation Authority

167 Settlement by the Financial Conduct Authority or the Prudential Regulation Authority

168 Arbitration

169 Duty to keep register

170 Right to obtain names and addresses from the register

171 Direction by the Financial Conduct Authority

172 General

173 Application by members

174 The Financial Conduct Authority and Prudential Regulation Authority

175 Connected undertakings

176 Powers of inspectors and duties of officers and agents

177 Special meetings

178 General

179 Instrument of dissolution

180 Alteration of an instrument of dissolution

181 Notice of consent or alteration

182 Notice of termination of dissolution

183 Void instruments

184 Special resolution for voluntary winding up

185 Notice of voluntary winding up

186 Grounds for winding up by the court

187 Presentation of petition for winding up

188 Notice of preliminary steps

189 Building society insolvency as alternative order

190 Power of court to declare dissolution of building society void

191 General

192 Compulsory cancellation

193 Discretionary cancellation

About this title-authors, overview

Stop drafting from scratch and work more productively.

Offering an unrivalled collection of non-litigation precedents for everything specialist and generalist practitioners are likely to encounter.

EXISTING USER? SIGN IN TAKE A FREE TRIAL