Commentary

117 Transfer statements and transfer summaries

BUILDING SOCIETIES vol 6(1)
| Commentary

117 Transfer statements and transfer summaries

| Commentary

117 Transfer statements and transfer summaries

A building society which desires to transfer its business must send either a transfer statement or a transfer summary to every member entitled to notice of a meeting of the society1 and must include such document in or with the notice to be sent to its members of the meeting of the society at which the requisite transfer resolutions are to be moved2.

A transfer statement, which must be approved by the Financial Services Authority (FSA)3, must contain certain prescribed particulars4 and particulars of any other matters required by the FSA in the case of the particular

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