| Commentary

107 Bonus distributions

| Commentary

107 Bonus distributions

If the terms of an amalgamation of, or transfer of engagements between, building societies include provision for part of the funds of one or more of the participating societies to be distributed in consideration of the amalgamation or transfer among any of the members of the participating societies, this provision must be authorised under the terms of the Building Societies Act 19861. Subject to the circumstances described below, the provision for such distribution by a building society must not exceed the limits prescribed by regulations made by the Treasury under the Building Societies Act 19862 and the

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