Commentary

92 Overview of procedure

BUILDING SOCIETIES vol 6(1)
| Commentary

92 Overview of procedure

| Commentary

92 Overview of procedure

The following is the likely sequence of events1 that take place between the decision of a building society’s board to merge with another society and the date from which the merger becomes effective:

  1. 92.1

        Stage 1: informal consultations with the Financial Services Authority’s (FSA) supervisory staff on both substance and timing of the proposed merger2.

  2. 92.2

        Stage 2: submission to the FSA of (a) prudential information3 and (b) written details of the proposed terms of merger and, in the case of an amalgamation4, submission to the central office5 of preliminary draft rules and memorandum6, noting any

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