Building Societies (Joint Account Holders) Bill

Building Societies (Joint Account Holders) Bill - continued	House of Commons

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Building Societies Commission powers on transfer of business.

2. In section 98 of the 1986 Act (transfers of business: supplementary provisions), insert after subsection (3)(d)-

	"or
	(e) there is no sufficient provision for any joint shareholder to share equally the distributions provided for or referred to in section 100 below with any representative joint holder (as defined in paragraph 7(2) of Schedule 2 to this Act); or
	(f) there is no sufficient provision for any joint borrower to share equally the distributions provided for or referred to in section 100 below with any representative joint borrower (as defined in paragraph 8(2) of Schedule 2 to this Act).".

Prepared 30 June 1998