Commentary

132 Obligation to give notice

BUILDING SOCIETIES vol 6(1)
| Commentary

132 Obligation to give notice

| Commentary

5: NOTICE TO MEMBERS OF TRANSFER PROPOSALS

132 Obligation to give notice

If a building society receives a transfer proposal1 from a company, it must send a transfer proposal notification2 in respect of the proposal to every member entitled to notice of a meeting of the society3. If, however, the proposer requests in writing that the requisite particulars be treated as confidential, the building society is not required to send such a notification provided that the request for confidentiality is not withdrawn by the proposer4.

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