Commentary

134 Confirmation of a merger

BUILDING SOCIETIES vol 6(1)
| Commentary

134 Confirmation of a merger

| Commentary

134 Confirmation of a merger

Except in a transfer of engagements under direction1, the Prudential Regulation Authority (PRA) must confirm a merger of building societies, unless it considers that any one or more of the following three criteria (‘the merger confirmation criteria’) apply2:

  1. 134.1

        some information material to the members’ decision about the merger was not made available to all the members eligible to vote3; or

  2. 134.2

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

  3. 134.3

        some relevant requirement of the Building

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