(1) A building society proposing to amalgamate with one or more other societies, to transfer its engagements to another society or to undertake to fulfil the engagements of another society shall, unless the Central Bank, in the case of a society transferring engagements or undertaking to fulfil engagements, has consented under section 96 to its proceeding by resolution of the board of directors, cause to be sent to every member entitled to notice of a meeting of the society a statement, in such form as the Central Bank may direct, showing -

(a) the financial position of each society concerned,

(b) the interest of the directors of each society concerned,

(c) any compensation or consideration proposed to be paid or given to the directors or other officers of each society concerned,

(d) details of any payments proposed to be made to members of each society concerned in consideration of the proposed amalgamation or transfer,

(e) any changes to be made, in connection with the amalgamation or transfer, in the terms governing outstanding loans,