UKPGA-1997-41 — Building Societies (Distributions) Act 1997

preamble

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

s. 1 — Protection of interests of beneficiaries in the case of trustee account holders.

s. 1(1)

The following sections shall be inserted in the Building Societies Act 1986 after section 102A—.

s. 1(2)

In section 97(2) of the Building Societies Act 1986 (meaning of “applicable provisions”) after “section 102” there is inserted “ sections 102B, 102C and 102D ”.

s. 1(3)

In section 102(2)(c) of that Act (power of Commission to make incidental provision by regulation) for “and section 101” there is substituted “ and sections 101, 102B, 102C and 102D ”.

s. 2 — Short title, commencement and extent.

s. 2(1)

This Act may be cited as the Building Societies (Distributions) Act 1997.

s. 2(2)

This Act shall apply in relation to a transfer of business of a building society in any case where the decision of the board of directors of the society to enter into the transfer in question is made public after 22nd January 1997.

s. 2(3)

This Act extends to Northern Ireland.