Schedule 5, Part II Notification of proposals for transfers of business [Part IA of Schedule 17 to 1986 Act] (paras. 5A-5E)
Preliminary
5A In this Part of this Schedule -
"requisite particulars", in relation to a transfer proposal, means the particulars required by paragraph 5B(2) below to be given in a transfer proposal notification;
"transfer", in relation to a building society, means a transfer of the whole of its business to a company under section 97;
"transfer proposal", in relation to a building society, means a proposal in writing by a company for a transfer by the society to the company, with or without terms for the transfer; and "proposer" has a corresponding meaning;
"transfer proposal notification" means a notification containing the requisite particulars of a transfer proposal;
"transfer resolutions", in relation to a building society, means the resolutions required for the approval of a transfer by the society under section 97.
Duty to notify members
(1) Subject to sub-paragraph (3) below, it shall be the duty of a building society receiving a transfer proposal to send, in accordance with this Part of this Schedule, a transfer proposal notification in respect of the proposal to every member entitled to notice of a meeting of the society.
(2) A transfer proposal notification must contain the following particulars -