| Commentary

93 Prudential issues

| Commentary

93 Prudential issues

Before a firm proposal for merger is agreed, the participating building societies should consult with the Financial Services Authority (FSA) to discover whether there is any prudential objection to the proposal1. The FSA needs to be satisfied that the combined society will be managed prudently from the date of completion of the merger and comply with the Principles for Business (PRIN)2 and with all the relevant rules made by the FSA. The FSA also wishes to know that post-merger arrangements and agreements provide for the proper integration or rationalisation of the operations of the combined society, and

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