Commentary

20 Obligations on existing building society to adopt memorandum and alter rules

BUILDING SOCIETIES vol 6(1)
| Commentary

20 Obligations on existing building society to adopt memorandum and alter rules

| Commentary

20 Obligations on existing building society to adopt memorandum and alter rules

A building society which was already registered by 25 July 1986 had a transitional period in which to agree on a memorandum and alter its rules so as to make it conform to the Building Societies Act 19861. The Act dealt with the possibility that an existing building society might not comply with these obligations: the central office could in effect impose a memorandum and suitable rules on it2. In fact, by 1989 all authorised building societies had adopted memoranda and registered rules complying

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