Commentary

110 Procedure for transfer of business

BUILDING SOCIETIES vol 6(1)
| Commentary

110 Procedure for transfer of business

| Commentary

110 Procedure for transfer of business

In order to transfer its business to its successor, a building society must take the following steps: if the transfer is to be to a specially formed successor, it must secure that it is formed having articles of association with the requisite protective provisions1; it must make a conditional transfer agreement with the successor as to the terms of the transfer which, in so far as they are regulated terms2, comply with certain restrictions3; it must approve the transfer and the transfer agreement by the requisite transfer resolutions

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