Commentary

184 Discretionary cancellation

BUILDING SOCIETIES vol 6(1)
| Commentary

184 Discretionary cancellation

| Commentary

184 Discretionary cancellation

The Financial Services Authority (FSA) may cancel a society’s registration in the following circumstances1:

  1. 184.1

        where a certificate of incorporation has been obtained by fraud or mistake and the society does not have permission under Part IV of the Financial Services and Markets Act 2000 to accept deposits2;

  2. 184.2

        where the society has ceased to exist3; or

  3. 184.3

        where the society has requested the cancellation4.

Where the FSA proposes to cancel a society’s registration otherwise than at the society’s request, it must give the society not less than two

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