Commentary

98 Resolutions by transferor building society

BUILDING SOCIETIES vol 6(1)
| Commentary

98 Resolutions by transferor building society

| Commentary

98 Resolutions by transferor building society

The building society transferring its engagements must resolve to do so by two resolutions (‘merger resolutions’), of which one is passed as a shareholding members’ resolution and the other as a borrowing members’ resolution in accordance with the statutory requirements1. If the transfer is of some but not all of the society’s engagements to its members in respect of shares held by them, it must also resolve to transfer the engagements by an affected shareholders’ resolution2. Notice of the meeting at which such resolutions are to be moved must be given, not less than

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