(1) Part I of Schedule 16 to this Act shall have effect for imposing on building societies proposing to amalgamate or to transfer or undertake engagements requirements to issue statements to their members relating to the proposed amalgamation or transfer.
(2) Part II of Schedule 16 to this Act shall have effect for imposing requirements for notification by a building society, to its members and to the appropriate authority, of the receipt by the society of proposals for a transfer of engagements or an amalgamation.
(3) Where application is made to the appropriate authority for confirmation of an amalgamation or transfer of engagements it shall, except as provided in subsections (4) to (6) below, confirm the amalgamation or transfer; and Part III of Schedule 16 to this Act shall have effect with respect to the procedure on an application for such confirmation.
(4) Subject to subsection (5) below, the appropriate authority shall not confirm an amalgamation or transfer of engagements if i
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