Commentary

116 Transfer resolutions

BUILDING SOCIETIES vol 6(1)
| Commentary

116 Transfer resolutions

| Commentary

116 Transfer resolutions1

The requisite transfer resolutions are two resolutions, of which one is passed as a borrowing members’ resolution and the other (‘the requisite shareholders’ resolution’) is passed in accordance with the requirements of the Building Societies Act 1986 Schedule 2 Paragraph 30(2)-(5)2. Those requirements differ according to whether the transfer is to a specially formed successor or not3. If the successor is to be a specially formed company (ie in the case of a conversion), the requisite shareholders’ resolution must be passed as a shareholding members’ resolution and must be passed on a poll on which not less

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