Commentary

168 Connected undertakings

BUILDING SOCIETIES vol 6(1)
| Commentary

168 Connected undertakings

| Commentary

168 Connected undertakings

The Financial Services Authority (FSA)1 has power2 to appoint inspectors to investigate and report on, and/or call a special meeting to consider, the affairs of a connected undertaking3 of a building society if either:

  1. 168.1

        a request for such an investigation and/or meeting is made in an application by the requisite number4 of members5; or

  2. 168.2

        (where the application contains no such request) the FSA is of the opinion that it is necessary for the purposes of the investigation into or consideration of the affairs of the building society that

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