Commentary

96 Effect of an amalgamation

BUILDING SOCIETIES vol 6(1)
| Commentary

96 Effect of an amalgamation

| Commentary

96 Effect of an amalgamation

On the specified date of the amalgamation, all property, rights and liabilities of the amalgamating building societies are automatically transferred to and vested in the successor society, including matters not capable of being assigned or transferred1, and the amalgamating societies are dissolved; the transfer is deemed to have been effected immediately before the dissolution2. If, on the specified date, all the amalgamating societies have permission under Part IV of the Financial Services and Markets Act 2000 to accept deposits3, the successor society is, with effect from that date, to

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