Commentary

166 Application by members

BUILDING SOCIETIES vol 6(1)

166 Application by members

166 Application by members

The number of members required to apply1 for the appointment of inspectors or the calling of a special meeting (‘the requisite number’)2 is one-tenth of the whole number of members of a building society, or 100 members where the society has more than 1,000 members3. The application must be supported by such evidence as the Financial Services Authority (FSA)4 may require for the purpose of showing that the applicants have good reason for requiring an investigation by inspectors or consideration by a special meeting, as the case may be, and that the applicants are not actuated

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial