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LORDS amendments to the

Building Societies (Funding) and Mutual Societies (Transfers)

Bill

[The page and line references are to HL Bill 65, the bill as first printed for the Lords.]

Clause 3

1

Page 3, line 36, at end insert—

 

“( )    

If a draft of an order mentioned in subsection (6) would, apart from this

 

subsection, be treated for the purposes of the Standing Orders of either

 

House of Parliament as a hybrid instrument it must proceed in that House

 

as if it were not such an instrument.”

2

Page 3, line 44, at end insert—

 

“( )    

an EEA mutual society.”

3

Page 4, line 9, at end insert—

 

“( )    

An EEA mutual society is—

 

(a)    

a body which is a European Cooperative Society for the purposes of

 

Council Regulation (EC) No 1435/2003 (statute for a European

 

Cooperative Society);

 

(b)    

a body which is established as a cooperative under the law of an

 

EEA state as mentioned in that Regulation;

 

(c)    

a body which is a cooperative or mutual undertaking of such

 

description as the Treasury specify by order and which is

 

established or operates in accordance with the laws of an EEA state

 

or any of the Channel Islands or the Isle of Man.”

4

Page 4, line 10, leave out from second “a” to end of line 13 and insert “relevant

 

company—”

5

Page 4, line 20, at end insert—

 

“( )    

A relevant company is—

 

(a)    

a company within the meaning of the Companies Act 2006 (or,

 

before the commencement of Part 1 of that Act, the Companies Act

 

1985);

 

(b)    

a company within the meaning of the Companies (Northern

 

Ireland) Order 1986 (S.I. 1986/1032 (N.I. 6));

 
 
Bill 15954/2

 
 

2

 
 

(c)    

a body corporate which is incorporated in an EEA state other than

 

the United Kingdom.”

6

Page 4, line 20, at end insert—

 

“( )    

For the purposes of paragraph 17 of Schedule 1 to the Financial Services

 

and Markets Act 2000 (c. 8) (power to charge fees) a function conferred on

 

the Financial Services Authority by an order under this section is to be

 

treated as a function conferred under or as a result of that Act.”

After Clause 4

7

Insert the following new Clause—

 

“Channel Islands and Isle of Man

 

Her Majesty may by Order in Council provide for any of the provisions of

 

this Act to extend, with or without modifications, to any of the Channel

 

Islands or to the Isle of Man.”


 
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