Article 22 Building Societies: amendment of section 84D
(1) Section 84D (modification of this Act and other legislation), is amended as follows.
(2) Before subsection (1) insert -
"(A1) Where a share transfer instrument makes provision under section 84ZA(2) with respect to a building society, the second stabilisation option is to be exercised by making (in that or a subsequent share transfer instrument) provision under section 12(2)(a) -
(a) with respect to the successor company, or
(b) where provision made under section 84ZA includes provision under subsection (3)(g) of that section, with respect to the successor company or its specified parent undertaking.".
(3) In subsection (2) -
(a) after "making of" insert "provision as mentioned in subsection (A1)(a) or (b) or";
(b) in paragraph (b) -
(i) after the first reference to "apply" insert "where relevant";
(ii) in sub-paragraph (ii) after "subsection" insert "(A1)(b) or".
(4) In the Table in subsection (2) -