Commentary

124 Confirmation of a merger

BUILDING SOCIETIES vol 6(1)
| Commentary

124 Confirmation of a merger

| Commentary

124 Confirmation of a merger

Save in the case of a transfer of engagements under direction1, the Financial Services Authority (FSA) must confirm a merger unless it considers that any one or more of the following three criteria (‘the merger confirmation criteria’) apply:

  1. 124.1

        some information material to the members’ decision about the merger was not made available to all the members eligible to vote2; or

  2. 124.2

        the vote on any resolution approving the merger does not represent the views of the members eligible to vote; or

  3. 124.3

        some relevant requirement of the Building Societies Act 1986 or the rules

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