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Session 2006-07
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Notices of Amendments


given up to and including

Wednesday 25th April 2007

      New Amendments handed in are marked thus *

Consideration of Bill


Building Societies (Funding) and Mutual Societies (Transfers) Bill


New Clause

Annual report to Parliament

Dr Vincent Cable
Simon Hughes

NC1

    * To move the following Clause:—

      ‘The Chancellor of the Exchequer must lay before Parliament an annual report on the performance and funding position of financial mutuals and the comparative performance of financial non-mutuals to assist Parliament in the monitoring of the implementation of this Act.’.


Mr David Winnick
Mark Fisher
Mr Richard Shepherd

1

* Page 2, line 4 [Clause 1], leave out from ‘instrument’ to ‘House’ and insert ‘subject to annulment in pursuance of a resolution of either’.

Mr David Winnick
Mark Fisher
Mr Richard Shepherd

2

* Page 2, line 23 [Clause 1], leave out from ‘instrument’ to ‘House’ and insert ‘subject to annulment in pursuance of a resolution of either’.

Mr David Winnick
Mark Fisher
Mr Richard Shepherd

4

* Page 2, line 32 [Clause 2], at end insert ‘and after satisfying those liabilities any surplus assets are distributed in accordance with the society’s rules.’.


Mr David Winnick
Mark Fisher
Mr Richard Shepherd

3

* Page 3, line 7 [Clause 2], leave out from ‘instrument’ to ‘House’ and insert ‘subject to annulment in pursuance of a resolution of either’.

Mr David Winnick
Mark Fisher
Mr Richard Shepherd

5

* Page 3, line 9 [Clause 2], at end insert—

      ‘(2) In Schedule 2 to the Building Societies Act 1986 (c.53) after paragraph 3(4) insert—

      “(4A) Rules about matters under item 14 of the Table in sub-paragraph (4) above must ensure that surplus assets are distributed in accordance with need.”’.


Mr David Winnick
Mark Fisher
Mr Richard Shepherd

6

* Title, line 2, after ‘members;’ insert ‘to provide for the alteration of priorities on dissolution and winding up of a building society;’.


 
 
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Prepared: 26 April 2007