Commentary

121 Overview of transfer procedure

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BUILDING SOCIETIES vol 6(1)

121 Overview of transfer procedure

Copyright © 2025 LexisNexis
| Commentary

The following is the likely sequence of events1 that will take place between the decision of a building society’s board to transfer the society’s business to a successor and the date from which the transfer will become effective:

  1. 121.1

        Stage 1: informal preliminary discussions with the Prudential Regulation Authority (PRA) on both substance and timing of the proposed transfer.

  2. 121.2

        Stage 2: public announcement of the transfer proposals2.

  3. 121.3

        Stage 3: consultation with the PRA on the outline structure of, and main features

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